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IDB Board of Directors recommends dismissal of its president, Mauricio Claver Carone

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The Executive Board of the Inter-American Development Bank (IDB) unanimously recommended the removal of the bank’s president, Mauricio Claver-Carone. This, after an investigation into an alleged romantic relationship with an underling found he likely breached ethics rules, sources off the record told Bloomberg.

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The final decision on the dismissal of Claver-Carone It will be taken by the IDB’s Board of Governors, composed mainly of finance ministers from the governments to which the executive directors of the board report. Officials will have until Tuesday to vote online without having to meet in person.

During the administration of President Donald Trump, Claver-Carone He became the first US citizen to lead an institution traditionally chaired by a Latin American since its creation in 1959. However, this US, the IDB’s largest shareholder, supports his dismissal, according to a Treasury spokesman.

Claver’s refusal to cooperate fully with the investigation and his creation of an environment of fear of retaliation among staff and borrowing countries has resulted in a loss of confidence on the part of the bank’s staff and shareholders, requiring a change in leadership, according to the spokesman.

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In that line, Brazil, the second largest shareholder of the IDB, also supports the removal of the representative. The president’s administration Jair Bolsonaro considers that Mauricio Claver-Carone cannot continue running the bank based in Washington after an internal investigation uncovered an alleged affair with a subordinate, in apparent violation of bank rules, an official told Bloomberg.

About the investigation to the president of the IDB

The investigation found evidence—supported by analysis of handwriting, divorce records, and statements from interviewees during—supporting the conclusion that the couple were in a romantic relationship before joining the marriage. IDB at the end of 2020, and that it continued while they kept their jobs at the bank, according to the September 19 report prepared by the law firm Davis Polk & Wardwell LLP under the leadership of the IDB board.

The investigation also showed that the president of the IDB took labor measures to benefit the woman involved, increasing her salary in two instances in less than a year for a cumulative increase of 46% to more than US$400,000.

With information from Bloomberg.

Source: Larepublica

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