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CBI Programme Key to Antigua and Barbuda’s Economic Recovery
Antigua and Barbuda’s economic turnaround has been driven in large part by revenues from the Citizenship by Investment (CBI) programme, Prime Minister Gaston Browne has said.
Addressing a panel discussion, Mr Browne described the CBI initiative as a “life-saver” that helped the country avoid economic collapse in 2013.
He said proceeds from the programme had funded critical areas including healthcare, education, infrastructure, and social housing projects like the HAPI programme, which provides free homes to the vulnerable.
The Prime Minister recalled that when his government took office, 90% of the national budget was tied up in salaries, pensions, and debt repayments, leaving little room for investment.
“The CBI programme created the fiscal space we desperately needed,” he said.
Mr Browne urged that the programme be preserved and expanded, saying that despite international scepticism, it remained essential to Antigua and Barbuda’s continued growth.
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PM Browne makes a good point. Without CBI revenue, a lot of our services would suffer.
Depending so heavily on CBI worries me. What happens if the global environment changes?
One thng you will catch me agreeing with Browne — those criticizing CBI often don’t offer any other solution.
CBI saved us during COVID. People have short memories sometimes.
We’re lucky to have the CBI option