Goldfajn’s election to the Inter-American Development Bank brings recognition to Brazil

The election of former Central Bank President Ilan Goldfajn as president of the Inter-American Development Bank (IDB) represents the recognition of the platform presented by Brazil, said today (Nov. 20) afternoon the Ministry of Economy.

In a statement, the ministry celebrated the victory, pointing out that the result was achieved after a campaign led by the Brazilian government.

According to the ministry, Goldfajn’s administration will focus on three priorities: Improving physical and digital infrastructure, mobilizing private resources and expanding regional integration, fighting poverty, inequality, and food insecurity, combating climate change, and protecting biodiversity.

“The result was achieved after a campaign led by the Ministry of Economy. The Brazilian candidate achieved a large majority and exceeded the criteria of percentage of the Bank’s voting capital and regional support, allowing the election to be completed in the first round,” the statement said.

The statement from the Ministry of Economy highlights Goldfajn’s qualities for the post, emphasizing his “outstanding track record in public and private sectors” and his “recognized experience as an academic.”

Goldfajn, president of Brazil’s central Bank from 2016 to 2019, was, until recently, director of the Western Hemisphere Department at the International Monetary Fund (IMF).

According to the ministry, the candidates were approved on the last day by representatives of the countries that comprise the Bank.

During the discussions, the ministry said, the candidates were able to present the priorities of the financial institution and propose measures to promote economic recovery in the region.

Five countries nominated candidates for the IDB presidency: Argentina, Brazil, Chile, Mexico, and Trinidad and Tobago.

The organization, founded in 1959, is chaired by citizens of Mexico, Chile, Uruguay, Colombia, and the United States, and for the first time by a Brazilian.

As the world’s largest multilateral financial institution for development and integration, the Inter-American Development Bank works in education, health, and infrastructure to provide a quality of life for the people of Latin America and the Caribbean.

It is the primary source of financing for development in the region.

The IDB’s election comes after Mauricio Clavier-Carone’s departure from the United States.

Clavier-Carone, who was appointed head of the institution by former U.S. President Donald Trump, was removed from his post on Sept. 26 at a meeting of governors amid accusations that he had an intimate relationship with a female staff member and retaliated against employees who denounced the relationship.

The Bank is temporarily headed by Honduran Reina Irene Mejía, the authority’s vice president.

With information from Agencia Brasil

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