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  • Barbados better placed to withstand economic risks, says Greenidge

    Barbados better placed to withstand economic risks, says Greenidge

    Against a backdrop of shifting global economic tides, the head of Barbados’ central bank has moved to reassure stakeholders that the island nation is well-equipped to navigate ongoing international headwinds, even as its breakneck post-pandemic expansion settles into a steadier, more sustainable growth trajectory. On Tuesday, Central Bank Governor Dr. Kevin Greenidge pushed back against growing market anxiety over Barbados’ economic outlook, aligning the institution’s assessment with a recent analysis from the African Export-Import Bank (Afreximbank) that paints a picture of steady, if modest, expansion in the coming years.

    In an interview with local outlet Barbados TODAY, Greenidge emphasized that both Afreximbank and the Central Bank share a core consensus: the Barbadian economy has retained its resilience, built up robust macroeconomic buffers, and stands on a solid foundation of ongoing structural reform. The rapid bounceback that followed COVID-19 lockdowns has run its course, he confirmed, and the country has now entered a phase of normalized, long-term growth.

    Afreximbank’s projection of 1.9% GDP growth for 2026 aligns almost exactly with the Central Bank’s own forecast of roughly 2%, Greenidge noted. The central bank’s mid-year assessment found the economy expanded by 1.4% in the first half of 2026, with domestic sectors—including business services, other professional services, and wholesale and retail trade—leading the expansion. While tourism remains a foundational pillar of the national economy, performance has come in below initial projections, dragged down by shorter average visitor stays, elevated airfares, and reduced airline capacity in key source markets.

    On the fiscal side, Greenidge said the two institutions’ assessments are also broadly aligned, noting that Barbados has consistently maintained strong primary budget surpluses and that total public debt continues to trend downward. The minor discrepancy between the two reports’ debt-to-GDP figures stems only from differing data cut-off dates: Afreximbank’s cited 96% ratio reflects data through the end of March, while the central bank’s updated June estimate puts gross public sector debt at 93.7% of GDP.

    Greenidge also clarified the government’s long-term fiscal targets, explaining that the program mandates a 3.5% primary surplus as a share of GDP for fiscal years 2026/27 and 2027/28, with a current baseline projection of a 4.1% surplus in subsequent years. This trajectory is designed to put Barbados on track to hit its target of reducing debt to 60% of GDP by fiscal year 2035/36.

    This fiscal framework sets the context for the new 257 million U.S. dollar Stand-By Arrangement with the International Monetary Fund (IMF), Greenidge explained. The original IMF-backed Barbados Economic Recovery and Transformation (BERT) programme launched in 2022 concluded successfully, and the new BERT 2026 initiative is now a fully domestically led transformation effort. The new Stand-By Arrangement is a precautionary measure, he stressed, providing an extra safety net against unforeseen external shocks to support the next phase of structural reform, rather than emergency financing that Barbados currently needs to draw down on.

    While acknowledging that significant risks remain, Greenidge pointed out that Barbados’ status as a small open economy leaves it inherently exposed to a range of external pressures: global geopolitical tensions, persistent trade uncertainty, elevated freight and energy costs, high international interest rates, and slowing demand in core tourism markets. Climate-related shocks and natural disasters also continue to pose a constant threat to the island’s economy. Domestically, policymakers face pressing challenges including speeding up the execution of planned infrastructure investments, boosting labor productivity, addressing skills gaps and demographic headwinds, and improving the competitiveness of Barbadian exports in global markets.

    “What is important, however, is that Barbados is approaching those risks from a much stronger position than in the past,” Greenidge noted. He highlighted that international reserves remain stable at around 3.1 billion U.S. dollars, the domestic financial system is well-capitalized and liquid, fiscal accounts remain robust, and public debt is firmly on a downward path.

    Looking ahead, Greenidge identified new growth drivers beyond the traditional tourism sector. A robust pipeline of investments, including tourism-related real estate and hospitality development as well as major infrastructure projects targeting roads, water access, renewable energy, and housing, is expected to become an increasingly important engine of expansion. “Faster execution of those projects, together with stronger construction activity, improved productivity and more competitive exports, will be important to sustaining growth and broadening its base,” he said.

    Greenidge framed Afreximbank’s modest growth projections as a sign of a maturing economic cycle, not weakness. “I would interpret the Afreximbank projections as showing an economy that is no longer relying on post-COVID rebound growth, but is entering the harder phase of generating sustained growth through investment, productivity and diversification,” he explained. “Growth of around two per cent should not be read as economic weakness or contraction. The real test now is whether we can use the stability and buffers we have rebuilt to lift Barbados’ medium-term growth potential and ensure that the gains are broad-based and durable.”

    Last Friday, University of the West Indies economist Dr. Ankie Scott Joseph echoed Greenidge’s assessment, noting that Afreximbank’s latest Barbados Country Brief closely matches the Central Bank’s projections, with both institutions forecasting modest growth, stable public finances, and falling debt. The only notable discrepancy between the two reports relates to tourism performance, which stems again from differing data cut-offs: Afreximbank’s analysis only includes data through the end of March, while the Central Bank’s assessment extends to June. In the first quarter of 2026, tourism earnings were 3.7% higher year-on-year, but earnings from April to June fell below 2025 levels, pulling the first half’s total year-on-year increase to just 10.9 million dollars and marking a sharp slowdown in the sector’s expansion.

  • Franse staatsschuld onder druk: politieke crisis jaagt leenkosten omhoog

    Franse staatsschuld onder druk: politieke crisis jaagt leenkosten omhoog

    France is facing growing financial pressure on global bond markets, with borrowing costs for the French government surging to levels not seen in nearly a quarter of a century. Yields on 10-year French sovereign bonds climbed close to the 5% threshold this week, hitting their highest point since 2002, after days of sustained investor anxiety over the country’s rapidly expanding national debt, persistent large budget deficits, and deep political fragmentation that complicates efforts to rein in public spending. While minor stabilization was observed on Tuesday, yields remained elevated at roughly 4.9%, leaving the spread between French bonds and German Bunds – the eurozone’s benchmark risk-free asset – sharply wider, a clear sign that investors are demanding higher risk premiums to lend to the French state. As of 2025, France’s total national debt stands at approximately 3.6 trillion euros, equal to around 119% of the country’s annual gross domestic product, a dramatic jump from the pre-pandemic level of 98% of GDP. The budget deficit, which the government projects will hit 5.4% of GDP by 2026, remains well above the European Union’s 3% legal limit for member states. The Macron administration has laid out plans to cut the deficit to 5% of GDP by 2027 through a package of 54 billion euros in public spending cuts and new revenue-raising measures, but the road to implementing these reforms is fraught with political and social risk. President Emmanuel Macron’s government lacks a stable majority in parliament, facing opposition from both left and right blocs, turning the upcoming 2027 budget vote into a high-stakes political showdown as well as an economic one. This financial market turmoil comes at a moment when France is already grappling with widespread public protests, fueled by soaring living costs and widespread anger over planned austerity measures, adding even more pressure on Macron and Prime Minister Sébastien Lecornu. To understand the root of the bond market selloff, it is critical to unpack how sovereign borrowing works: when investors doubt a country’s long-term fiscal sustainability, they demand higher yields to hold the country’s debt, which in turn pushes up government borrowing costs and pushes down the market price of existing bonds. For France, multiple overlapping factors are driving the current crisis. Beyond already high debt and deficits, slow economic growth has constrained tax revenue growth, while deep political disagreements over how to share the burden of fiscal adjustment have delayed decisive action. The upcoming 2027 presidential election has added further uncertainty, as parties remain far apart on fiscal policy, and investors are craving clear commitments to put public finances back on a sustainable path that has so far been lacking. Many observers have questioned why other major economies with far higher debt levels are not facing similar market pressure, and the answer lies in structural differences between national debt profiles. The United States, for example, holds a much higher debt-to-GDP ratio, but benefits from the U.S. dollar’s status as the world’s primary reserve currency, which creates consistent, unrivaled global demand for U.S. Treasuries. Japan’s debt tops 200% of GDP, but the vast majority of its debt is held domestically, and decades of near-zero interest rates have kept debt servicing costs manageable. Italy, meanwhile, has a higher debt-to-GDP ratio than France but runs a smaller budget deficit, and its fiscal position has improved in recent years in the eyes of investors. Within the eurozone, France also faces stiffer competition for investment capital: Germany has increased its bond issuance in recent years, while Italy and Spain have strengthened their fiscal positions, giving investors far more alternatives for European sovereign bond exposure than they previously had. The surge in borrowing costs is already having tangible impacts on France’s public finances. Higher interest payments eat up a growing share of the national budget, leaving less room for core public priorities including education, healthcare, infrastructure, and social services. France already has one of the largest welfare states in the OECD, with public spending accounting for roughly 57% of GDP, and pension spending alone makes up a large share of total outlays. An aging population will only add more long-term pressure on public finances in the coming decades, while slow economic growth continues to hold back tax revenue, creating a vicious cycle that can push debt-to-GDP ratios even higher if left unaddressed. Despite the current turmoil, France is not on the brink of an immediate sovereign debt crisis. The country has a large, diversified advanced economy and retains unimpeded access to global capital markets. Still, the sharp rise in bond yields serves as a clear warning shot: investor confidence in the government’s ability to put public debt on a sustainable path is eroding. A prolonged period of elevated borrowing costs risks worsening France’s fiscal challenges, as a failure to deliver credible reform could lead investors to demand even higher yields, creating a self-reinforcing cycle that makes deficit reduction harder. A bailout from European institutions or the International Monetary Fund is not an inevitability, but such a move would represent a major blow to market confidence in France’s financial credibility. The coming months will prove decisive for the Macron government. The administration must navigate passage of its 2027 budget through parliament, restore investor confidence, and avoid further stoking already widespread public discontent – all while balancing the need to stabilize public finances against the risk of dragging down economic growth and eroding access to key public services. It is a high-stakes balancing act that will shape France’s fiscal and political trajectory for years to come.

  • VINLEC fuel surcharge rises to 86.71 cents despite $798,000 subsidy

    VINLEC fuel surcharge rises to 86.71 cents despite $798,000 subsidy

    St. Vincent and the Grenadines’ primary electricity provider, VINLEC, announced Tuesday that it will implement an October 2026 fuel surcharge of 86.71 cents per kilowatt-hour, even after applying a record monthly subsidy of EC$798,591 to soften the impact of global energy market volatility on consumers.

    This new rate marks a 7-cent per kWh increase from September’s charge, and also surpasses the previous all-time high surcharge of 83.20 cents applied to July 2026 electricity bills by 3.5 cents. VINLEC officials confirmed that the $798,591 subsidy applied to October bills is the largest single-month subsidy the company has ever allocated, a direct response to the unprecedented spike in global fuel prices. Without this intervention, the company added, the October fuel surcharge would have climbed above 92 cents per kWh, placing a far heavier financial burden on residential and commercial customers.

    Since the Government of St. Vincent and the Grenadines rolled out national cost-of-living support initiatives in May 2026, VINLEC’s cumulative subsidy contributions have topped EC$3.9 million, underscoring the company’s efforts to offset steady price increases driven by global market forces. The root cause of the latest surcharge hike, VINLEC explained, is the all-time record high benchmark price for diesel fuel reached across most Caribbean territories in September 2026. This sharp price increase stems from global supply chain disruptions tied to ongoing geopolitical tensions, which have sent ripples through energy markets across the region.

    Even as it navigates short-term market volatility, VINLEC reaffirmed its long-term commitment to reducing reliance on fossil fuels by expanding renewable energy penetration across St. Vincent and the Grenadines. Two key projects are currently advancing to meet this goal: the recently recommissioned solar farm at the Lowmans Bay Power Station, which has nearly tripled solar photovoltaic generation capacity at the site, and an ongoing Battery Energy Storage System project at the company’s Cane Hall facilities. The Cane Hall storage project is on track to be completed by early 2027, and will provide the grid flexibility needed to support additional renewable energy expansion across the island chain.

    In its announcement, VINLEC urged customers to continue practicing electricity conservation wherever practical to help manage individual monthly costs. The company also noted that customers with questions about their October electricity bills or the new fuel surcharge can reach the VINLEC Customer Services Department via email at [email protected], by phone at 456-1701 extension 237 or 238, or through the company’s official Facebook page.

  • GTA career opportunity: Marketing Executive

    GTA career opportunity: Marketing Executive

    As the official body charged with positioning and promoting Grenada as a leading global travel destination, the Grenada Tourism Authority (GTA) has long anchored its work in driving inclusive economic growth that lifts all local citizens. Built on a foundation of core values including radical positivity, mutual respect, radical transparency, unwavering commitment, and uncompromising excellence, the organization is now expanding its team by seeking a new Marketing Executive to join its growing ranks.

    This fixed-term role reports directly to the Chief Marketing Officer, and the selected candidate will play a central role in executing GTA’s strategic marketing objectives to strengthen Grenada’s position as a top tourist choice. Among the primary responsibilities, the successful hire will develop and roll out targeted sales and promotional strategies tailored to key source markets, designed to highlight Grenada’s unique travel offerings and increase the destination’s appeal among international travelers.

    The role also requires organizing and hosting familiarization trips for international travel industry stakeholders and media professionals, giving these key influencers first-hand exposure to everything the island has to offer. Additionally, the Marketing Executive will lead customer and partner relationship nurturing programs, analyze granular tourism data and market intelligence to shape data-backed strategic recommendations, and oversee end-to-end execution of a range of assigned marketing projects and initiatives aligned with GTA’s broader mission.

    To be considered for the position, candidates must hold a bachelor’s degree in Marketing, Sales, Tourism, or a closely related field, alongside a minimum of three years of hands-on experience working in a professional marketing environment. Ideal candidates will bring strong organizational and time management skills, a proven track record of building durable, productive professional relationships, and the ability to deliver complete projects on strict deadlines.

    Given the seasonal nature of the tourism industry, candidates must also demonstrate flexible availability to work outside standard 9-to-5 hours, including evenings, weekends, and public holidays during peak travel periods. Proficiency in core computer systems and document management tools—particularly the full Microsoft Office Suite—is a non-negotiable requirement, while prior experience working with Adobe Creative Suite and Canva is considered a significant advantage.

    Eligible candidates interested in joining the GTA team are invited to submit their application, consisting of a full curriculum vitae and a tailored cover letter, via the official career portal at https://puregrenada.bamboohr.com/careers/67. The application window will close on 30 October 2026, and GTA notes that only shortlisted candidates matching the role requirements will be contacted for further discussion.

    This posting was published via NOW Grenada, which clarifies that it does not take responsibility for the opinions, statements, or third-party content shared by contributors to its platform. Users can access a reporting tool on the site to flag any content that violates platform terms of service.

  • Fort Young Hotel secures 13 diving awards, eight more than last year

    Fort Young Hotel secures 13 diving awards, eight more than last year

    A waterfront resort in Dominica’s capital Roseau is celebrating a landmark achievement in global diving tourism, after scoring a historic haul of honors in one of the industry’s most prestigious annual awards. Fort Young Hotel & Dive Resort, a popular destination for diving enthusiasts exploring Dominica’s pristine Caribbean marine ecosystems, walked away with 13 accolades at Scuba Diving Magazine’s 2027 Readers’ Choice Awards, a massive jump from the five awards it earned just one year prior in 2026.

    This year’s results represent a new record for the resort, with recognition spanning both its luxury accommodation offerings and world-class diving services. For the first time in the resort’s history, several of its core dive operations earned top rankings from voters, highlighting steady improvements across every area of its guest experience. Among its standout wins, Fort Young secured a spot in the Top 10 for Quality of Rooms, and also earned high praise across a wide range of competitive categories: Quality of Resort, Quality of Restaurant, Quality of Training & Courses, Attention to Safety, Quality of Dive Boats, and Best Overall Dive Resort.

    Unlike industry awards judged by a small panel of experts, the Scuba Diving Magazine Readers’ Choice Awards are decided entirely by public votes from the international diving community. This makes the results a direct reflection of how actual guests and diving practitioners rate the quality of a resort’s services and experiences, giving the honors particular weight in the global travel space.

    In an official statement released by the resort, leadership credited the sweeping recognition to the combined hard work of its hospitality and diving teams, who have prioritized consistent improvements to guest services, dive training, professional-grade equipment, and industry-leading safety protocols.

    “These awards reflect our team’s passion for diving, commitment to safety, and dedication to delivering outstanding experiences for every guest,” said William Lawrence, Dive Operations Manager at Fort Young Hotel & Dive Resort. “Alongside the growing recognition of Dominica as a top-tier diving destination, these honors reinforce our island’s reputation as a truly exceptional place to dive, and we are proud to be such a core part of that story.”

    Fort Young already holds the prestigious PADI 5 Star Resort certification, a designation that confirms the resort meets global standards for high-quality dive education and accessible services for divers across all experience levels, from first-time beginners to seasoned professional enthusiasts. Nestled along Roseau’s scenic waterfront, the resort operates as both a full-service accommodation provider and a specialist dive hub, catering specifically to visitors eager to explore Dominica’s rich, biodiverse marine environment.

    Looking ahead, resort leaders say the expanded collection of awards, paired with Dominica’s rising global profile as a must-visit diving destination, is expected to draw more international divers, professional travel advisors, and specialist diving tour operators to the island. This growth in visitor interest is poised to benefit not just the resort, but the broader local tourism economy that relies on diving as a key economic driver. More information about Fort Young Hotel & Dive Resort and its offerings is available on its official website, fortyounghotel.com.

  • Christmas barrel concessions start November 1

    Christmas barrel concessions start November 1

    Starting November 1 this year, Saint Lucia will roll out its long-awaited annual Christmas barrel concession program, a policy designed to ease household import costs for personal goods through the end of February 2027. Under the newly approved scheme, every eligible household in the country is permitted to import up to two duty-free barrels of approved goods, with each barrel capped at a maximum value of 3,000 Eastern Caribbean dollars.

    The initiative, which received formal sign-off from the Cabinet via Conclusion No. 8444 of 2026 on September 28, is outlined in official Customs Notice No. 10 of 2026. It grants a full 100 percent waiver on standard customs duties for a broad range of qualifying items including personal use products, groceries, apparel, children’s toys, and other common household consumables. Notably, electronic devices are explicitly excluded from the duty-free benefits to align with the policy’s core focus on supporting household needs.

    To prevent commercial abuse of the concession, strict usage rules are in place. The two-barrel limit is applied strictly on a per-household basis, and all imported goods must be used exclusively for personal, non-commercial purposes. Customs authorities have confirmed that standard administrative penalties and financial fines will be enforced against any parties found misusing the scheme for commercial resale or trade.

    In an additional expansion of benefits, the Cabinet has also approved the submission of targeted legal amendments to Parliament. If passed, these amendments will extend exemptions to qualifying barrels imported during the concession period, eliminating both the Health and Citizen Security Levy and the standard Value Added Tax (VAT) on these shipments. Even with these broad exemptions, a 6 percent Customs Service Charge will still apply to all qualifying items, a small fee designed to cover administrative processing costs for the program.

  • Arajet expects to launch Venezuela flights in early 2027

    Arajet expects to launch Venezuela flights in early 2027

    MEXICO CITY — At the recent ALTA Airline Leaders Forum held in Mexico City, Arajet, the low-cost Dominican Republic-based airline, has publicly outlined its ambitious expansion plan to launch commercial passenger services between the Dominican Republic and Venezuela, with the inaugural flight tentatively scheduled between March and April 2027. The timeline is contingent on securing the final necessary operating authorization from Venezuelan civil aviation authorities this month, according to Manuel Luna, Arajet’s Communications Director.

  • Dominican Republic hosts Latin American and Caribbean Religious Tourism Congress

    Dominican Republic hosts Latin American and Caribbean Religious Tourism Congress

    The Caribbean nation of the Dominican Republic has made history this week as it plays host to the fourth iteration of the Latin American and Caribbean Congress of Tourism Pastoral Care, a landmark collaborative event organized by the country’s Ministry of Tourism (Mitur) and the Dominican Episcopal Conference. For the first time since the congress’ founding, roughly 40 international delegates from across the region gathered on Dominican soil to advance collective work at the intersection of faith, tourism and sustainable development.

    Centered on the guiding theme “Towards an ordinary and organic tourism pastoral care,” this year’s congress was built around two core goals: reinforcing the Catholic Church’s active role in shaping the regional tourism ecosystem, and elevating the Dominican Republic’s unique religious, historical and cultural heritage as a premier destination for travelers seeking faith-based experiences. In a break from traditional static conference formats, the event adopted an itinerant model that brought delegates directly to five distinct ecclesiastical territories across the country: the dioceses of Puerto Plata, La Vega, La Altagracia, and Stella Maris, as well as the Archdiocese of Santo Domingo. This on-the-ground structure allowed participants not only to engage in structured conferences and working meetings, but also to experience first-hand the local religious tourism offerings that each region has to offer, while facilitating open dialogue around shared challenges, successful initiatives and hands-on experience exchange.

    One of the most talked-about sessions of the congress featured a keynote address from José Armando Tavares, the founding former rector of the Technological Institute of the Americas (ITLA). Tavares turned the conversation to one of the most pressing issues reshaping modern tourism: the growing influence of artificial intelligence and the ethical questions that accompany widespread digital transformation across the sector. While Tavares acknowledged that AI integration can deliver meaningful enhancements to the overall travel experience for visitors, he issued a clear warning against overreliance on technology. He emphasized that technological innovation should never replace the human connection and personalized attention that lie at the heart of hospitality, nor should it create barriers that exclude travelers who face challenges accessing or using digital tools. Closing his remarks, Tavares called for a reorientation of the tourism sector toward a sustainable, accessible, people-centered model guided by a clear ethical and humanistic framework.

    Beyond dialogue and capacity building, the congress also served as a platform to amplify an ongoing religious tourism initiative developed by Mitur in partnership with the Catholic Church and the Dominican Episcopal Conference: the Paths of Faith program, which aims to connect visitors to the country’s extensive network of religious heritage sites and communities.

    Looking ahead, the momentum from this congress will carry forward to the next major industry event. The fourth Religious Tourism Meeting is scheduled to take place on October 24 as an official part of the upcoming Caribbean Tourism Exchange. This follow-up event will continue the work of strengthening cross-sector collaboration between the tourism industry and religious institutions, with the ultimate goal of diversifying the Dominican Republic’s tourism product offerings and tapping into the fast-growing global market for faith-based travel.

  • The colmado question that could rewire dominican fintech

    The colmado question that could rewire dominican fintech

    In the bustling neighborhood colmados that form the backbone of Dominican retail, a quiet tension is playing out between the promise of financial technology and the stubborn reality of daily small business life. For any entrepreneur pitching a new digital payment app to a corner shop owner, a simple demo can prove that payments go through. But answering three follow-up questions — how much will it cost me, when can I access my funds, and who will help if something breaks — is what actually determines whether the product will ever gain traction.

    This quiet, unaddressed question sits at the heart of the Dominican Republic’s largest untapped fintech opportunity. Digital transactions are expanding steadily, but cash remains entrenched as the preferred payment method for most of the working population, and small business owners have little patience for new tools that add more work to their already packed days. Central Bank data from September 2025 recorded 2.5 million digital wallet-initiated card transactions, totaling RD$4.35 billion — a notable figure, but only a slice of the country’s overall electronic payment volume, and far smaller than the total value of cash transactions. A 2023 National Financial Inclusion and Education Survey from the same institution underscores cash’s enduring hold: 55.9% of Dominicans receive their primary income in cash, and 54.1% explicitly state they prefer to get paid that way. While this data measures income receipt rather than point-of-sale purchases, the broader trend is unambiguous: Dominicans are adopting new digital payment tools, but they are not abandoning cash. A single worker might collect a cash salary, send a digital transfer to a family member, and pay for groceries with a bank card all in the same week. For colmado owners, this means the most popular payment tool will never be the shiniest new technology — it will be whatever creates the least hassle when balancing the books at the end of the day.

    Enter Paydoly, a new fintech startup founded in the U.S. and led by CEO Edward A. Nupa, that is aiming to solve this unmet need for Dominican consumers and small merchants. Nupa brings a seasoned background in backend financial technology: before launching Paydoly, he worked in banking operations at PNC and enterprise analytics at Fiserv, then founded Quvah, a Microsoft Partner technology consultancy that grew to over $1 million in annual revenue. Paydoly’s planned product suite includes a consumer digital wallet, person-to-person transfers, QR-code point-of-sale payments, payment links for remote transactions, and a simplified sales tracking tool called Quick Sell. The core value proposition is familiar enough: give customers more flexible payment options while helping small businesses organize their sales records in one place.

    Unlike many fintech startups that hype early user counts as proof of success, Paydoly remains in private beta testing, with roughly 100 merchants signed up for trials as of September 2026. The company openly acknowledges that payment authorization infrastructure and key operating integrations are still being finalized, and early sign-ups do not equate to active daily users, completed transactions, or recurring revenue. This transparency is important: a promising concept deserves time to prove its value in real world conditions, rather than being declared a market success before any merchant has used it long enough to identify flaws.

    The real test of any new digital payment tool is not the first transaction, but the second. After a merchant tests a new payment link and a customer completes one purchase, a series of practical questions determine whether the tool will be used again: Can the merchant easily match the payment to the right customer and order? Does the posted amount match what lands in their account after fees? Are funds available for use exactly when the platform promised? Is there a real, accessible support contact if a transaction fails? And most critically, will any customer choose to use that payment method a second time?

    For small shop owners, the hidden cost of a clunky payment tool goes far beyond transaction fees. It is the 15 minutes spent chasing down a missing transfer after closing, the phone call back to a confused customer, the extra hour spent reconciling mismatched records when the store should be closed. A truly useful digital payment tool removes work from a merchant’s plate — it does not give them a second, unpaid job to do after hours.

    This challenge is not one that fintech startups can solve alone. Dominican banks already have established trusted relationships with small businesses, compliant fund management systems, and regulatory frameworks to protect consumers. Merchant associations hear directly from shop owners every day about their most pressing pain points. Startups, meanwhile, can iterate and test new solutions far faster than large, bureaucratic traditional financial institutions. Each stakeholder holds a piece of the solution, but meaningful progress requires more than ceremonial partnership announcements and press photo ops.

    Practical collaboration could start small: for example, a bank or merchant association could connect fintech developers with a small group of colmado owners willing to walk through how they currently process payments, and what specific problems actually harm their bottom line. Any subsequent product testing would need to follow regulatory requirements, put proper consumer safeguards in place, and secure clear informed consent from participating merchants. Good collaborative processes will clarify who is responsible for what, what merchants stand to gain from participating, and what performance metrics justify scaling to a larger audience. Without these foundational agreements, dozens of stakeholder meetings will only produce photo opportunities and no meaningful change for small business owners.

    The Dominican Republic has no shortage of ambitious fintech entrepreneurs and cutting-edge financial technology. Its hardest, most underaddressed challenge is building tools that actually deliver tangible benefits to the daily routines of ordinary small business owners. Paydoly has yet to prove it can clear that high bar, and it is not alone — every fintech company vying for a spot at the colmado counter will have to pass the same test. The future of digital payments in the country will not be decided by the early adopter customer willing to try something new. It will be decided by the tired colmado owner, at the end of a long day of sales, who decides the new tool is simple enough to use again tomorrow.

  • Office of the Ombudsman vacancy: Executive Secretary/Financial Officer

    Office of the Ombudsman vacancy: Executive Secretary/Financial Officer

    An important administrative and finance position has become available at the Office of the Ombudsman, which is currently calling for applications from skilled, eligible candidates to fill the vacant combined post of Executive Secretary/Financial Officer. This dual-role position requires a professional capable of managing two core sets of responsibilities, spanning secretarial administration and financial operations to support the office’s daily function.

    For the secretarial and administrative component of the role, the selected candidate will take ownership of multiple critical organizational tasks. Their duties will include overseeing and updating the office’s full filing system, which covers personnel records, all incoming and outgoing correspondence, and key reference materials. They will also be tasked with coordinating internal and external logistics, including arranging staff meetings, on-site visits, and scheduled appointments as directed by office leadership. Additional administrative responsibilities include supporting the drafting of official correspondence, memoranda, and other internal documents, recording and preparing official meeting minutes for staff and stakeholder gatherings, completing all required reprographic work such as photocopying, document duplication and collating, and conducting daily electronic backups of all office digital files to protect sensitive institutional data.

    On the finance and accounting side, the successful applicant will be responsible for maintaining the office’s fiscal compliance and financial tracking. This preparation work includes organizing all records of income and expenditure to ensure they are ready for official posting to institutional ledgers. They must also ensure every financial and procurement operation carried out by the office adheres to all established legal norms, including the existing Public Finance Management Act and the Public Procurement and Disposal of Property Act. Other core financial duties include preparing monthly payroll and allowance disbursements, serving as the custodian of the office’s petty cash system, identifying required office supplies and sourcing vendors for these purchases, managing the office’s supply stores and maintaining up-to-date, accurate inventory records, and keeping a continuously updated running balance of all office income and expenditure to support transparent financial reporting.

    To be considered for the role, candidates must meet a set of minimum qualifications and professional requirements. Applicants need to hold at least an associate degree in Business Administration, with additional formal qualifications in Finance and Accounting. They must demonstrate advanced proficiency in the QuickBooks accounting software, and have shorthand or speed writing skills with a minimum speed of 90 words per minute. General computer literacy is also required, including proven working knowledge of the Microsoft Office suite, specifically Word, Publisher, and Excel. Strong communication skills, both oral and written, are a mandatory requirement for the role, as is 3 to 5 years of prior professional experience in a similar administrative or finance position. Candidates must also fall within the age range of 30 to 40 years old to be eligible.

    Interested candidates who meet all the stated requirements are invited to submit their application package, which must include a formal cover letter, an up-to-date curriculum vitae, and contact information for two professional references. All application materials must be sent via email to [email protected] no later than 2 November 2026. The Office of the Ombudsman notes that only shortlisted candidates who meet the required qualifications will be contacted for further assessment or interview. This job posting is distributed via NOW Grenada, which adds a standard disclaimer that the platform is not liable for any opinions, statements, or third-party content shared by contributors, and provides a reporting channel for users to flag any abusive content related to the posting.