The IDB begins the election of its new president: this will be the process

Mauricio Claver Carone

The Inter-American Development Bank (IDB) announced, this Wednesday, September 28, that began the nomination process for candidates for the presidency of the institution after the dismissal of the Cuban-American Mauricio Claver-Carone, after an investigation for irregularities.

(See: After Claver-Carone, IDB leadership would return to the region).

In this way, during the next 45 days, the Governors of the institution (Ministers of Finance or Economy of the countries) will be able to present their candidates.

According to analysts, among the qualities that the next leader of the IDB must have is to be technocrat and woman. In this way, the names of Michelle Bachelet, former president of Chile and former UN peace commissioner, stand out; Laura Chinchilla, former Vice President of Costa Rica; Y Alicia Barcena, former executive secretary of ECLAC.

(See: The IDB dismisses its president for an intimate relationship with a subordinate).

It is important to note that the president of the IDB is elected by the Board of Governors, in which each of the 48 member countries it is represented by its governor. This event is traditionally held in the first quarter of the year, but, following internal regulations, an extraordinary meeting could be held at the headquarters, as indicated it will be on this occasion.

Mauricio Claver-Carone came to the IDB after being proposed by the former president of the United States, Donald Trump.


Voting power varies according to the number of shares owned by each member country of the IDB’s ordinary capital. The winning candidate must also have the support of at least 15 of the 28 regional countries. The United States has 30%, followed by Brazil and Argentina with 11.4%. Colombia, like Chile, they have 3.1%.

(See: IDB financed US$4.5 billion in climate change activities).

The president is elected for a period of five years, with the possibility of being re-elected only once.

The IDB has a history of contributing to the progress and development of the region for more than six decades”, said Reina Irene Mejía, interim president of the Bank.“Our work is built on solid institutional foundations, high ethical values ​​and operational excellence. Our institution is now stronger and more committed to continuing to make a positive difference in people’s lives.”, he added.

(See: A strong IDB).


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Written by Editor TLN

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