PM Drew’s Absence from Summit Cripples Already Damaged CBI Program.

Prime Minister Terrance Drew’s conspicuous absence from the 2025 Caribbean Investment Summit (CIS25) has sparked widespread condemnation and raised serious questions about the future of St. Kitts and Nevis’s Citizenship by Investment (CBI) program. The summit, held in Antigua and Barbuda, was deemed the most crucial CBI event of the decade, bringing together regional leaders to chart a course for the multi-billion dollar industry. The irony is not lost on observers that St. Kitts and Nevis, the very birthplace of CBI, was represented not by its leader, but by Attorney General Garth Wilkin, while the summit itself was flawlessly executed by a St. Kitts-Nevis based firm. The Prime Minister’s no-show has been interpreted as a grave diplomatic misstep, further compounding the woes of an already struggling program.

The St. Kitts and Nevis CBI program, once considered the gold standard, has been plagued by a series of controversies and questionable decisions. Beginning in 2023, policy changes perceived as reckless shook investor confidence. The subsequent appointment of the controversial Philippe Martinez as the sole developer for the program in 2024 further fueled concerns. A leadership vacuum emerged with the quiet departure of CIU CEO Michael Martin, leaving the program adrift. Adding to the turmoil, the unresolved Russian refund scandal and the recent revocation of 32 citizenships have cast a long shadow over the program’s integrity. The cumulative effect has been a dramatic plunge in both revenue and applications, exceeding 50%, severely damaging the nation’s reputation and raising doubts about the government’s ability to manage the program effectively.

The CIS25 summit presented a golden opportunity for Prime Minister Drew to address these issues and demonstrate leadership in navigating the turbulent waters of the CBI industry. The agenda was specifically tailored to address the challenges plaguing regional CBI programs, focusing on enhancing transparency in marketing, harmonizing regional policies, strengthening due diligence processes, and restoring investor confidence. By choosing to abstain from the summit, Prime Minister Drew missed a critical chance to reassure investors and stakeholders, further isolating St. Kitts and Nevis within the regional CBI landscape. His absence sent a clear message of disengagement and further eroded the nation’s credibility within the industry.

The Prime Minister’s failure to attend the summit has fueled intense speculation and analysis. Some observers suggest that his absence was a deliberate attempt to avoid accountability and scrutiny regarding the program’s decline. Others posit that he was retreating under mounting public pressure and global criticism. Yet another perspective suggests that his non-attendance signifies a tacit admission of defeat, indicating that the government has abandoned hope of salvaging the program. Regardless of the underlying reasons, the optics are undeniably damaging, reinforcing the perception of a government struggling to manage a vital economic sector.

The Prime Minister’s actions, or rather inaction, stand in stark contrast to the proactive stance taken by other regional leaders. Grenada’s Prime Minister Dickon Mitchell, for instance, not only attended the summit but also publicly highlighted Prime Minister Drew’s absence, further amplifying the embarrassment for St. Kitts and Nevis. While other nations engaged in constructive dialogue and collaborated on strategies to strengthen the CBI industry, St. Kitts and Nevis remained on the sidelines, seemingly forfeiting its leadership role. This perceived abdication of responsibility has raised concerns that the nation is losing its influence and relevance within the regional CBI community.

The contrast between St. Kitts and Nevis’s pioneering role in establishing the CBI industry and its current state of disarray is striking. Once a beacon of innovation and best practices, the Federation now finds itself grappling with a tarnished reputation and dwindling investor interest. The Prime Minister’s decision to bypass the CIS25 summit, a crucial platform for industry collaboration and reform, only exacerbates this decline. His absence symbolizes a significant shift in the nation’s standing within the CBI landscape, marking a transition from industry leader to regional laggard. The once-vibrant CBI program of St. Kitts and Nevis, a source of national pride and economic prosperity, now faces an uncertain future, burdened by the consequences of mismanagement and lost opportunities.