St Kitts and Nevis continues to tumble downwards within CARICOM in the World Bank’s Ease of Doing Business.
The latest index from the World Bank Group in Washington, DC indicates that the Ease of Doing Business in St Kitts and Nevis has worsened since Prime Minister Dr. the Hon Timothy Harris’ administration took office in 2015.
According to the World Bank, St Kitts and Nevis is now ranked 140 out of 190 countries in the world in Ease of Doing Business Global rankings.
In the English speaking countries of the Caribbean, St Kitts and Nevis is second to last both in the OECS and in CARICOM.
World Bank Group statistics indicate that in 2014, under the leadership of Prime Minister the Right Hon Dr Denzil L Douglas, St Kitts and Nevis was ranked 101.
In 2018, St Kitts and Nevis remained at 134 and in 2019, St Kitts and Nevis is ranked 140, falling 6 places.
It therefore means that since St Kitts and Nevis has fallen a total of 39 places between 2015 and 2019.
The rankings are based on the average of each economy’s ease of doing business scores for the 10 topics included in this year’s aggregate ranking. This measure shows how close each economy is to global best practices in business regulation. A higher score indicates a more efficient business environment and stronger legal institutions.