EconomyMauricio Claver-Carone is dismissed as president of the IDB

Mauricio Claver-Carone is dismissed as president of the IDB

Governors of the Inter-American Development Bank (IDB) voted on Monday to remove President Mauricio Claver-Carone, a person familiar with the decision said, after an investigation showed that the only US president in the 62-year history of of the agency had an intimate relationship with a subordinate.

The top body of Latin America’s largest development bank began voting late on Thursday and reached the required quorum and majority of votes shortly after noon on Monday, the source told Reuters, adding that it is expected that the nominations to replace Claver-Carone begin next week.

Claver-Carone, who became president of the IDB in October 2020, denied the accusations of bad practices in his management. He says he will take legal action against the bank.

Likewise, he pointed out that he has not been notified of the decision of the Governors of the bank to remove him from the presidency.

Last week it was revealed that a US Treasury Department spokesman declined to confirm the vote, but said he wanted to see a “quick resolution” from governors.

The Davis Polk law firm told the governors it had found evidence to support the whistleblowers’ allegations that Claver-Carone had been in an intimate relationship with a subordinate and had engaged in misconduct that violated bank rules.

With information from Reuters

The IDB seeks a new president

The members of the Board of Governors must propose candidates to occupy the presidency of the bank that Mauricio Claver-Carone left.

IDB executives recommend dismissing its president Mauricio Claver

After an investigation found misconduct by the president of the regional body, the directors voted unanimously.