The board of the Inter-American Development Bank (IDB) plans to vote to elect the next president of the multilateral financial institution on November 20, the institution reported.
The IDB Secretary’s Office called the Governors of the Bank to present candidates for the vacancy left with the expulsion of Mauricio Claver-Carone, at the end of September.
“That the election of the President of the Bank will take place on November 20, 2022, in an extraordinary meeting of the Assembly of Governors of the Bank, both at the Bank’s Headquarters in Washington DC, and with the capacity to participate in a platform electronic software”, agreed the IDB board, according to the Regulations.
The process comes after the institution’s board of governors at the end of September vote in favor of the dismissal of Mauricio Claver-Caroneinvolved in an internal investigation for an alleged relationship with a subordinate, who was temporarily replaced by Reina Irene Mejía.
Mexico announced that it was applying for Alicia Bárcerena, former head of the Economic Commission for Latin America (ECLAC) to hold the position, according to the president, Andrés Manuel López Obrador.
However, in the absence of knowing the official list of candidates, the media conglomerate specialized in finance Devex consigned that the former president of Costa Rica Laura Chinchilla is emerging as one of the favorites to hold the position.
“The former president of Costa Rica, Laura Chinchilla, who competed against Claver-Carone to lead the IDB in 2020 before retiring, is among the favorite candidates to succeed him, diplomatic sources said,” the outlet said.
Chinchilla competed for the position in 2020, but withdrew before the process was completed because he did not have the support of the United States, the administration of former President Donald Trump had already announced that he would put one of his own in the position.
To be elected president of the IDB, you must have the support of at least 15 of the 28 countries that own the bank and have the proportion of votes distributed according to the shares held by each country.
The United States, for example, has the highest voting power, with 30%, followed by Argentina and Brazil with 11.3%; These three countries account for more than 52% of the shares, to which Mexico is added with 7.2%.
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