Stabroek News Sunday

Five candidates nominated ahead of Nov. 20 election to replace ousted IDB president

-

(Reuters) - Five countries - Argentina, Trinidad and Tobago, Mexico, Brazil and Chile - nominated candidates for president of the Inter-American Developmen­t Bank ahead of a Nov. 20 board election, the bank said on Saturday.

Argentina had announced on Friday that it would nominate internatio­nal economic relations Secretary Cecilia Todesca Bocco. Also previously nominated were Mexico's central bank Deputy Governor Gerardo Esquivel and Chile's former Finance Minister Nicolas Eyzaguirre.

Brazil's outgoing President Jair Bolsonaro nominated former central bank chief Ilan Goldfajn, who heads the Internatio­nal Monetary Fund's Western Hemisphere department.

Trinidad and Tobago nominated Gerard Johnson, a former IDB official now serving as a senior consultant to the Jamaican finance ministry, for the post.

The deadline for submitting nomination­s was 11:59 p.m. on Friday, the IDB said.

The IDB's governors, who are usually finance ministers or other high-ranking economic authoritie­s from the Bank’s 48 member countries, will interview the candidates at a virtual meeting on Nov. 13, with the election to follow at a hybrid meeting a week later, it said.

An aide to Brazilian President-elect Luiz Inacio Lula da Silva is seeking to delay the election until next year so that Brazil's nomination can reflect the newly elected leader.

Former Finance Minister Guido Mantega said he sent a letter to U.S. Treasury Secretary Janet Yellen to support a delay.

A Treasury spokespers­on said Washington was not in favor.

"The rules for elections are clear and we expect the elections to occur on the agreed timeline. The nomination­s period just closed and the U.S. is carefully assessing each candidate," the spokespers­on said.

The U.S. Treasury, which did not nominate any candidate for the leadership role, holds 30% voting power in the bank, followed by Brazil (11%) and Argentina (11%). Colombia and Chile each hold a 3% stake.

Former President Mauricio ClaverCaro­ne, the first American to hold the job, was ousted in an ethics scandal last month.

Newspapers in English

Newspapers from Guyana