Brazil nominates former Central Bank President Ilan Goldfajn for IDB President

The Brazilian government nominated today the economist and former president of the country’s Central Bank, Ilan Goldfajn, for the presidency of the Inter-American Development Bank (IDB), after the dismissal of the American Mauricio Clavier-Carone.

In a statement, the Ministry of Economy assured that, together with the Foreign Ministry, it would take the necessary steps for Brazil to assume the presidency of the IDB for the first time since the bank was created. Brazil is the second largest shareholder of the IDB, just behind the United States.

“Minister (of Economy) Paulo Guedes considers that the candidate has ample and successful professional experience in the public sector, in multilateral organizations, and the private sector, in addition to a solid academic background, which unequivocally qualifies him for the position of president of this important institution,” the note said.

With 48 member countries, the IDB is the leading financier of infrastructure projects in Latin America and the Caribbean. In 2021, the IDB approved allocating 23 billion dollars to regional projects. The election for the IDB presidency will be held on November 20.

Goldfajn, 56, was president of the Central Bank of Brazil between 2016 and 2019 and is currently the Western Hemisphere Department of the International Monetary Fund (IMF) director.