The race to be Latin America’s next top development banker
Several competent candidates jostle to succeed a sacked Trumpist
When in 2020 the administration of Donald Trump engineered the election of Mauricio Claver-Carone, an official at the National Security Council (NSC), as president of the Inter-American Development Bank (IDB) it broke a gentlemen’s agreement dating back to the bank’s founding in 1959. This held that the top job should go to a Latin American while the United States, the largest shareholder with 30% of the capital, would have the number-two slot and informal vetoes. Mr Claver-Carone vowed to shake up what he claimed was a fossilised institution. Yet his appointment always looked like an accident waiting to happen, especially after Joe Biden won the White House. So it proved.
This article appeared in the The Americas section of the print edition under the headline “A new battle for the IDB”
From the November 12th 2022 edition
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