Government Calls High-Income Status 'Bittersweet' as Antigua Loses Access to Development Funds

The government has described Antigua and Barbuda's classification as a high-income economy by the World Bank as a "bittersweet" achievement, saying the designation reflects economic progress but simultaneously strips the country of access to concessional financing and development assistance.

According to Antigua News Room, Director General of Communications Maurice Merchant made the remarks Thursday during the weekly post-Cabinet media briefing, one day after the World Bank officially classified Antigua and Barbuda as a high-income economy based on its 2024 gross national income per capita.

Merchant acknowledged that the designation carries national pride but warned it presents real challenges for a small island developing state operating within the OECS.

"It's a bittersweet moment for us," he said. "While we rejoice that we have been tagged as a high-income country, on the flip side of that, we are a developing country within the OECS, a small nation, and we believe that we should be able to tap into certain funding and concessional loans and grants, etc., but our high-income status prevents us."

Merchant argued that the classification places Antigua and Barbuda alongside much larger, wealthier economies, despite the country continuing to face vulnerabilities typical of small island states.

"It means that we are walking with the big boys while being a little boy, and we cannot partake in little boys' business," he said.

Merchant suggested that economic progress has come at a direct cost — reduced access to grants, low-interest loans and other forms of development assistance that remain available to lower-income nations.

His remarks reflect longstanding concerns raised across the Caribbean that income classifications alone fail to capture the unique challenges facing small island developing states, including climate vulnerability, limited economic diversification and exposure to external shocks. Successive Antiguan governments have called on international financial institutions to incorporate such factors into eligibility assessments for concessional financing.

Despite those frustrations, Merchant said the government remains proud of the economic performance that earned the high-income designation, even as it continues pushing for financing models based on vulnerability rather than income alone.