IMF URGES CBI COUNTRIES TO STRENGTHEN GOVERNANCE AMID EU VISA-FREE TRAVEL THREAT

St. Kitts and Nevis and other Caribbean countries operating Citizenship by Investment (CBI) programmes are being encouraged to continue implementing reforms to strengthen governance and ensure the schemes better serve their national interests. The recommendation comes as the sector faces growing uncertainty following an ultimatum from the European Union threatening to end visa-free travel for countries operating CBI programmes unless they terminate the schemes by 2028.

Deputy Director of the IMF’s Western Hemisphere Department, Ana Corbacho, addressed the issue during the department’s press conference at the 2026 IMF/World Bank Group Annual Meetings in Bangkok, Thailand, in response to a question from TVC Channel 40 News.

On a positive note, Corbacho observed that the tourism-dependent economies of St. Kitts and Nevis and the wider Caribbean have demonstrated resilience amid current global economic shocks. Meanwhile, the IMF says the economic growth outlook remains very strong for commodity-dependent economies such as Guyana.