Funds from citizenship by investment (CBI) programs critical to ECCU countries

Chairman of the Monetary Council of the ECCU, and PM of Antigua and Barbuda, Gaston Browne claims that: “If we did not have our citizen by investment program, we would have certainly defaulted on a number of important loans.” He stressed the importance of the CIP/CBI programs for the OECS Region stating that the additional revenue (22% in the case of Antigua and Barbuda) generated is a key factor in determining whether they can honor  financial obligations.

Regional Governments have been bolstering the AML/CTF frameworks of these programs, especially since the spurt of scandals and security issues arising out of the CIP/CBI program in the OECS.

Link: http://www.caribbeannewsnow.com/headline-ECCU-countries-would-default-on-debts-without-CBI-revenue-33736.html

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