WASHINGTON, DC — AS discussions continue surrounding the recent decision by the Donald Trump Administration in Washington, DC to impose visa restrictions on passport holders from Dominica and Antigua and Barbuda, the International Monetary Fund (IMF) says it is closely monitoring the situation for any potential economic fallout.
The development comes at a time when countries operating Citizenship by Investment (CBI) programmes have already agreed to implement stricter policies aimed at safeguarding the integrity of their programmes and ensuring greater transparency.
Responding to queries from SKNVibes News about the possible economic implications for CBI-dependent territories within the Organisation of Eastern Caribbean States (OECS), the IMF noted that it “is closely monitoring developments related to Citizenship-by-Investment programs and their external environment.”
The United States administration imposed the restrictions on the two Caribbean nations for several reasons, including concerns about the absence of mandatory residency requirements and the adequacy of biometric data collection within their CBI programmes.
“Antigua and Barbuda has historically had Citizenship by Investment (CBI) without residency...Dominica has historically had CBI without residency,” the White House said in a statement.
At the time, both territories were included on an updated list issued by the White House. The administration emphasized that the restrictions and limitations imposed by the Proclamation are necessary to “prevent the entry of foreign nationals about whom the United States lacks sufficient information to assess the risks they pose, garner cooperation from foreign governments, enforce our immigration laws, and advance other important foreign policy, national security, and counterterrorism objectives,”
The move drew a response from Antigua and Barbuda’s Prime Minister, Gaston Browne, who pushed back against the claims. He stated, in part, that “Over the past year, Antigua and Barbuda has worked closely and constructively with several departments of the United States Government to strengthen safeguards within our Citizenship by Investment Programme. We have engaged in good faith, accepted practical suggestions, and taken concrete steps to ensure that our Programme presents no risk whatsoever to the security of the United States.”
While the visa restrictions have been described as temporary, with a review expected in the coming weeks, concerns remain. Observers warn that even short-term measures could affect investor confidence, the credibility of the programmes, and, by extension, the economies of small states that rely heavily on CBI revenues.
It is against this backdrop that the IMF cautioned, “While the direct economic impact appears limited, downside risks have modestly increased due to potential effects on CBI revenue, travel, and business mobility.”
