NDP Proposes CBI Programme to Ease Pressure on National Debt

By S.Browne. Updated 6:10 p.m., Wednesday, October 1, 2025, Atlantic Standard Time (GMT-4).

Opposition Leader and President of the New Democratic Party (NDP), Dr. Godwin Friday, said that if the NDP wins the next general election, it plans to implement a Citizenship By Investment (CBI) programme to help ease the country’s debt burden.

The initiative aims to create a new method of financing national development and generating funds without increasing the national debt, Dr. Friday said at a press conference earlier today (October 1).

“We will also establish a well-regulated citizenship by investment programme that will generate funds without increasing our already bloated national debt,” Dr. Friday said.

He stated that with the national debt possibly approaching three billion dollars, the CBI programme could serve as a “new and creative” way of financing national development, as the means to repay are shrinking by the day.

He further stated: “Begging and borrowing can only get you so far. We also have to produce and make an economy that is viable and productive and one that creates surplus that we can all enjoy.”

The Opposition leader said the initiative will generate tax-free, interest-free, and loan-free revenue which can be used to invest in national development and essential infrastructure that enhances a greater base for greater productivity going forward.

“It’s not just a matter of getting a freebie and a handout. It’s investing in creating a basis for a productive economy going forward into the future. That is how we make a better St. Vincent and the Grenadines.” Dr. Friday said.

The next general election in St. Vincent and the Grenadines is constitutionally due by February 2026, but largely expected before the end of 2025.

The public debt

According to the 2025 Estimates of Revenue and Expenditure, the total public debt, as at September 30, 2024, stood at 2,856, 977, 932 of which 818,454,019 was domestic debt and 2,038,523,913 was external debt of which 226,192,028 was owed to the Republic of China on Taiwan.

Prime Minister Gonsalves has maintained that his government will not support or implement a CBI programme.

-END-