Brazilian Economist Will Lead Regional Development Bank

Latin American governments on Sunday selected Brazilian economist Ilan Goldfajn to lead the region’s largest development bank in the wake of a misconduct probe that led to the firing of the previous president, the Associated Press reported. Governors from the Inter-American Development Bank’s 48 members selected Goldfajn to lead the Washington-based multilateral lender from a slate of five candidates nominated by Argentina, Brazil, Chile, Mexico and Trinidad & Tobago. It follows the firing in September of Mauricio Claver-Carone, who had been the first American to lead the bank in its 63-year history. He was removed after an ethics probe found he likely carried on an intimate relationship with a subordinate. He denied the allegation. The Inter-American Development Bank is the biggest multilateral lender to Latin America, disbursing last year a record $23 billion to alleviate poverty made worse by the coronavirus pandemic in the region. The U.S. is the largest shareholder, with 30% of voting rights. Read more.
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