BASSETERRE, St. Kitts – LEADER of the People’s Action Movement (PAM), Natasha Grey-Brookes, has criticised Prime Minister Dr. Terrance Drew for what she described as an empty speech on economic diversification.
In a recent national address, the Prime Minister attempted to reassure citizens about efforts to shift the economy away from its reliance on the Citizenship by Investment (CBI) Programme, which has contributed 50-60% of the country’s revenue over the past five years.
As part of his diversification strategy, Dr. Drew outlined plans to boost the construction sector through projects such as the Basseterre High School and Smart Homes initiatives. Additionally, the government is collaborating with a U.S.-based company to export peppers.
However, Grey-Brookes dismissed the Prime Minister's message, accusing the Labour administration of failing to bring meaningful change, “instead relying on photo ops, recycled projects and unfulfilled promises”.
“In his speech, the Prime Minister acknowledged the imbalance in our economy and the over-reliance on citizenship by investment, CBI programme. Yet, ironically spent most of his time promoting the very CBI initiatives he claims to want to reduce dependence on,” Grey-Brookes added.
The PAM leader expressed concern that the government lacks a coherent plan to revitalise the economy. “Despite the rhetoric on economic imbalance, the Labour government has leaned heavily on CBI from the start,” she said.
Dr. Drew has repeatedly stressed the importance of reducing the country’s dependence on CBI, citing the programme’s volatility. Recent scrutiny has intensified after some economic citizens were linked to criminal activities, and the programme now faces heightened risks, including its involvement in a RICO case that could affect its future.
“Instead of reducing dependency on CBI, this administration has doubled down on it, offering no real solutions to diversify our economy," Grey-Brookes said. "In fact, much of the Prime Minister's presentation focused on more CBI projects, with no innovative vision for true economic revitalisation,”
With the programme facing increased scrutiny, the government will need to critically assess which industries can best support the Federation and explore additional investments to steer the economy away from its dependence on CBI.
