EconomyThe IDB seeks a new president

The IDB seeks a new president

The Office of the Secretariat of the Inter-American Development Bank (IDB) notified its Governors that it has opened the process to propose candidates to be its next president.

Now, the Board of Governors has 45 days to propose candidates to take the place of the American Mauricio Claver-Carone.

To be elected, it is necessary for a candidate to obtain a majority of the voting power of any of the member countries. Voting power varies according to the number of shares owned by each of the 48 member countries of the IDB’s ordinary capital, the bank explained in a statement.

In addition, whoever is elected must have the support of at least 15 of the 28 countries in the region.

The management of a president is 5 years, with the option to be re-elected only once.

Calver-Carone became president of the IDB in 2020, however, it was after an investigation revealed that he had an intimate relationship with a subordinate.

Mauricio Claver-Carone is dismissed as president of the IDB

Proposals for the next head of the Inter-American Development Bank are expected to begin next week.

IDB executives recommend dismissing its president Mauricio Claver

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