(ZIZ)– Prime Minster, the Right Honourable Denzil Douglas, in his monthly press conference Wednesday afternoon defended the importance of the Citizenship by Investment Programme (CIP) despite an advisory issued by the United States Financial Crimes Enforcement Network (FINCEN).
FINCEN issued an advisory on May 20th titled “Abuse of the Citizenship by Investment Program sponsored by the Federation of St. Kitts and Nevis.”
Prime Minster Douglas stated that the government had pursued all assurances that were made to FINCEN to secure the continued success of the programme.
In keeping with the advisory, Pm Douglas stated that the government will enhance security measures and determine suitable changes for the programme.
He added that an advisory board will also be formed to protect and defend the CIP.
Prime Minister Douglas then highlighted his continued confidence in the CIP.
Meantime, in a press conference on Wednesday morning the International Monetary Fund praised the government for its sound economic management.