Euromoney’s coverage of Latin America this month took an unexpected turn following events on the opposite side of the Atlantic. As we spoke to Dominican bankers about an innovative new remittance-based strategy that state-owned bank Banreservas is pioneering, global attention also turned to the Caribbean nation as the short-lived UK government of prime minister Liz Truss collapsed.
The east side of the island is not just where Banreservas expects to rapidly grow its mortgage book through its newly launched diaspora-focused sales outreach, it’s also where the country’s vibrant tourist industry is located.
Suddenly conversations about new real estate developments for returning Dominicans were cut short to focus on the plans of ex-UK premier Boris Johnson, who was found to be holidaying on the island during the parliamentary session.
An ill-fated attempt to regain power saw the dishevelled Johnson cut his holiday short and high-tail it to the airport, where he was duly booed in the departure lounge by fellow returning Brits.
One Dominican banker that Euromoney spoke to seemed rather nonplussed by all the attention. “Well, I suppose it highlights that we have non-stop flights from the UK,” he mused. “That’s got to be positive for next year’s tourist season.”