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IDB GOVERNORS VOTE TO REMOVE BANK PRESIDENT CLAVER-CARONE AFTER ETHICS INVESTIGATION

Mauricio Claver-Carone President of the Inter American Development Bank (IADB)


October 3, 2022 | By Colin O. Jarrett |

Reuters is reporting that the governors of the Inter-American Development Bank (IDB) voted to fire Mauricio Claver-Carone, after an investigation showed the only American President in the bank’s 62-year-old history had an intimate relationship with a subordinate.

A source told Reuters that the governors of Latin America’s largest development bank began voting early last Thursday, reached the required quorum and majority vote earlier this week.

Nominations for Mr Claver-Carone’s replacement, likely a politically charged process, are expected to begin as early as next week.  Headquartered in Washington, the IDB is a key investor in Latin America and the Caribbean.

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