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IDB Board of Directors recommends dismissing its president Mauricio Claver-Carone

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The executive directors unanimously recommended the removal of Mauricio Claver-Carone, according to the people who, speaking on condition of anonymity, described a closed-door meeting that took place on Thursday. The press office of IDB did not immediately respond to a request for comment.

The final decision on the dismissal of Claver-Carone It will be taken by the IDB Board of Governors, mostly made up of finance ministers of the governments to which the executive directors of the board report. They will have until Tuesday to vote online without having to meet in person, the people said.

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The nomination in 2020 of Claver-Carone —who at the time was an adviser to the White House— by then-President Donald Trump to lead the development bank focused on Latin America generated a rift between the United States and the region. He was the first US citizen to lead an institution traditionally chaired by a Latin American since its creation in 1959.

The United States is the largest shareholder in the Washington-based IDB, a strategic bank for the country’s influence in Latin America. The bank lent $23.5 billion last year, focusing on boosting economies and offering lines of credit to buy COVID-19 vaccines for one of the regions hardest hit globally by the pandemic. The countries registered one of the worst economic contractions in their history in 2020; Millions of people lost their jobs or fell into poverty.

See also:

Brazil supports impeachment of IDB president for investigation; Claver-Carone defends himself before the board
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Claver-Carone, a former senior Treasury adviser, International Monetary Fund representative and foreign policy satellite radio host from Miami, has mounted an aggressive defense to keep his job. In a statement posted Tuesday on the website of the IDBClaver-Carone said he fully cooperated with the investigation, stating that “does not substantiate false and anonymous accusations made against me or IDB staff in the press”.

The United States supports the impeachment of Claver-Caronesaid a Treasury spokesman.

Its refusal to cooperate fully with the investigation and its 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 and requires a change in leadership, according to the spokesman.

The investigation found evidence—supported by analysis of handwriting, divorce records and interviewees’ statements—supporting the conclusion that the couple were in a romantic relationship before joining the IDB at the end of 2020 “and that the relationship may have continued during 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 research also showed that Claver-Carone took labor action 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 $400,000.

Source: Gestion

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