• By The Financial District

IADB Governors Vote To Kick Out Trump-Appointed Bank President

The governors of the Inter-American Development Bank (IDB) on Monday, Sept. 26, 2022, voted to fire Mauricio Claver-Carone, the bank said, after an investigation showed that the only American president in the bank’s 62-year history had an intimate relationship with a subordinate, Cassandra Garrison and Andrea Shalal reported for Reuters.


Photo Insert: Cuban-American Claver-Carone was nominated for a five-year term by then-President Donald Trump and took office in October 2020.



The bank's 14 directors had voted unanimously on Thursday to recommend the board remove Claver-Carone after an independent ethics investigation found evidence he had engaged in a prior intimate relationship with a senior staffer and it may have continued while they were at the bank.


It also showed he made employment decisions for the staffer, including salary increases totaling more than 45% of base pay in less than one year.




The bank in a statement said Claver-Carone would leave the bank effective immediately, and his deputy, Reina Irene Mejia, already the highest-ranking female leader in the bank's history, would become acting president until a new leader was elected.


Claver-Carone denied in an interview with Reuters on Monday that he ever had an intimate relationship with the staffer and said he was planning legal action against the bank.


All the news: Business man in suit and tie smiling and reading a newspaper near the financial district.

Headquartered in Washington, the IDB is a key investor in Latin America and the Caribbean, behind nearly 600 ongoing infrastructure, health, tourism, and other projects.


It was responsible for $23.4 billion in financing and other financial commitments in 2021, and was expected to lend billions to Argentina in 2022 and 2023 to help ease economic turmoil.


Banking & finance: Business man in suit and tie working on his laptop and holding his mobile phone in the office located in the financial district.

Cuban-American Claver-Carone was nominated for a five-year term by then-President Donald Trump and took office in October 2020. He had tried to wrest power away from Argentina and Brazil, which have dominated the bank's agenda in the past, and provide more of a role for smaller countries.



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