The International Monetary Fund (IMF) has weighed in on St. Vincent and the Grenadines’ planned Citizenship by Investment (CBI) program, advising the government to avoid real estate investment options and focus the incoming revenue strictly on paying down the national debt.
Speaking at a press conference following the conclusion of the 2026 Article IV mission, IMF Mission Chief noted that while a CBI program could offer a modest boost to the country’s fiscal revenue, it “carries risks and needs to be designed carefully”.
To maximize the financial benefits and minimize potential pitfalls, the IMF strongly recommends that the program be structured strictly around a single donation or fund option. Anton was explicit in his guidance, warning that an “investment or real estate route is strongly discouraged”. Furthermore, he stressed that every dollar of CBI revenue should be allocated solely toward reducing the country’s public debt.
This laser focus on debt reduction comes at a critical time for the island nation. After weathering the economic impacts of the pandemic, two major natural disasters, and global oil price shocks, St. Vincent’s public debt reached a staggering 113% of its GDP in 2025. Without decisive policy shifts, the IMF projects this debt ratio could balloon to 145% by 2031.
Prime Minister Dr. Godwin Friday welcomed the IMF’s recommendations, noting that his administration generally agrees with the financial institution’s advice regarding the structure of the new program.
Dr. Friday confirmed that his government is committed to using the CBI revenues responsibly to stabilize the economy.
“Our priority with revenues from that source would be to address the sovereign debt and also to invest in capital projects,” the Prime Minister stated, firmly assuring the public that the funds would be used for long-term financial health rather than being drained to cover everyday current expenditures.