Goldfjn was elected president of the IDB Argentina’s support for withdrawing Todesca’s candidacy

Brazilian economist Ilan Goldfajn was elected as the new president of the Inter-American Development Bank (IDB) for a five-year term during an extraordinary meeting of the institution’s board of governors held in Washington this Sunday. A face-to-face visit by representatives, the agency said in a statement.

Goldfajn, former head of the Central Bank of Brazil and current director of the International Monetary Fund’s (IMF) Western Hemisphere Department, was elected after a decisive agreement between the United States, Canada, Brazil and Argentina, which withdrew Cecilia’s candidacy. Todesca , and negotiated to hold three positions in the new administration: Vice President of the Departments, Infrastructure Management and the new Institute for Gender and Equality. Goldfage’s appointment was made by Brazilian President Jair Bolsonaro and was unopposed by President-elect Luiz Inacio Lula da Silva.

The IDB noted that Goldfajn will manage the bank’s operations and management, working with the public sector in Latin America and the Caribbean. In addition, he will chair the IDB’s Executive Board and the Executive Board of IDB Investments, which works with the private sector in the region. The start date of his operations is scheduled for December 19 this year.

Goldfajn received 80 percent of the vote, followed by Chile’s Nicolás Eyzaguirre with 9.9 percent, Mexico’s Gerardo Esquivel with 8.2 percent and Trinidad and Tobago’s Gerard Johnson with 1.6 percent. Goldfajn also received support from 17 governments, more than the 15 needed to win, from the bank’s regional borrowers and a group of 28 countries that include the United States and Canada.

The support of President Joe Biden’s administration is key, controlling 30 percent of Bank of America’s voting shares, nearly three times that of second-place Brazil and Argentina. The five candidates had interviews with representatives of IDB member governments a week ago, where they answered briefings and questions.

The IDB is a major source of financing for development in Latin America and the Caribbean through loans, grants and technical assistance; It also conducts extensive research across Latin America and the Caribbean, prioritizing social inclusion and equity, productivity and innovation, and regional economic integration in its development work.

Goldfajn, a former head of the Central Bank of Brazil and current director of the International Monetary Fund’s (IMF) Western Hemisphere Department, was nominated by Brazilian President Jair Bolsonaro, and his candidacy was verified by the president-elect. , Luis Inacio Lula da Silva.

Goldfajn said his priorities for the company are “combating inequality and improving food production and distribution; building countries’ resilience to the impacts of climate change and helping fossil fuel producers make a responsible transition to renewable fuels; and investing in physical and digital investments.” Infrastructure to attract private capital and innovation.

The IDB’s new president was replaced by American Mauricio Claver-Caron, who was fired by the board of governors on September 26 after an investigation into his favorable treatment of a subordinate with whom he had an emotional relationship.

Goldfjn will be the seventh president of the IDB. He was followed by Queen Irene Mejia Chacon (2022); Maurice Claver-Caron (2020-22); Luis Alberto Moreno (2005-2020); Henry V. Churches (1988-2005); Antonio Ortiz Mena (1971-1988); and Philip Blacksmith (1960–1971).