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

User Avatar

The Caribbean Association of Banks, Inc. is the representative body and recognized voice for banks and other financial institutions in the Caribbean. We seek to influence policies and legislation which impact the sector by advocating on our members’ behalf and participating in the global network of similar institutions.

Write a comment


The reCAPTCHA verification period has expired. Please reload the page.