The dual-island Caribbean nation of St. Kitts and Nevis has spent over EC$18 million (US$6.7 million) on measures for fighting the COVID-19 pandemic, Prime Minister Timothy Harris revealed during a news conference. He also said that the country will spend an additional EC$5 million (US$1.85 million) on such health initiatives by the end of the year, bringing the government's total COVID-related expenditure to more than EC$23 million (US$8.5 million).
This news arrives on the heels of last week's announcement that over 75 percent of the Federation's target population has now received its first dose of a COVID-19 vaccination.
During his virtual address to the U.N. General Assembly, Harris emphasized the necessity of continuing to invest in a resilient national health system. "We believe strongly that no one is safe until everyone is safe. That requires equitable access to vaccines and other medical products," he said. "We took action providing social protection programs for those in need. Indeed, we implemented a EC$120 million COVID-19 stimulus package. We reduced corporate income tax for employers to retain 75 percent of the workforce, and introduced VAT and import duty waivers for pandemic-related products."
The Prime Minister also expressed his thanks to the islands' bilateral partners for their generosity in helping to supply St. Kitts and Nevis with vaccines. Foreign Affairs Minister Mark Brantley, who was on hand at the United Nations General Assembly in New York, thanked Indian Prime Minister Narendra Modi, in particular, for facilitating COVID-19 vaccine distribution.
As a remote, self-contained set of islands in the Caribbean Sea, St Kitts and Nevis has spent decades making strides to build a self-sustaining economy, but much of the country's revenue does rely on tourism. When COVID-19 spurred international border closures and lockdowns, and worldwide tourism ground to a halt, important initiatives like Poverty Alleviation Program (PAP)-which provides low-income households with a monthly stipend-began being funded by the nation's Citizenship by Investment (CBI) Program.
CBI offers credible foreign investors second citizenship in St. Kitts and Nevis in exchange for a financial contribution, once they've passed due diligence. The program offers the most straightforward and efficient route to second citizenship, as ranked by the CBI Index. Investors are drawn to St. Kitts and Nevis because it's a safe, modern democracy in a paradisical location. Second citizenship here provides them with additional global mobility and the chance to diversify their wealth and establish a personal 'Plan B'.
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