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Montevideo, November 25th 2020 - 03:11 UTC

 

 

Argentina and Mexico “vote” for Biden and delay nominations at IDB until after the US election

Friday, October 30th 2020 - 13:00 UTC
Full article 13 comments
A meeting of IDB’s 14-member board was abruptly postponed at the request of Argentina and Mexico, the IDB press office said A meeting of IDB’s 14-member board was abruptly postponed at the request of Argentina and Mexico, the IDB press office said
Mexico and Argentina want to wait until after the U.S. election before voting arguing that support for IDB president Claver-Carone might fade if Trump loses Mexico and Argentina want to wait until after the U.S. election before voting arguing that support for IDB president Claver-Carone might fade if Trump loses
Democratic presidential nominee Joe Biden, who is leading Trump in national polls, also criticized Trump’s nomination of Claver-Carone Democratic presidential nominee Joe Biden, who is leading Trump in national polls, also criticized Trump’s nomination of Claver-Carone

Mexico and Argentina have delayed a key meeting of the Inter-American Development Bank until after the Nov. 3 U.S. election, delivering an early setback to plans by the bank’s new U.S. chief to install vice presidents from smaller countries.

A meeting of the IDB’s 14-member board was abruptly postponed at the request of Argentina and Mexico, the IDB press office said, adding that a majority of the board backed the three nominees from Honduras, Ecuador and Paraguay.

No new date has been published on the bank’s website. One source close to the process said the two countries could in theory delay the vote for three months under the bank’s rules.

Mexico and Argentina want to wait until after the U.S. election before voting on the basis that support for IDB President Mauricio Claver-Carone, the first U.S. citizen to head the regional lender, might fade if President Donald Trump loses his re-election bid, anticipated an official.

Both countries had opposed the candidacy of Claver-Carone, a former top adviser to Trump, who took over the helm of Latin America’s main financial institution this month.

Democratic presidential nominee Joe Biden, who is leading Trump in national polls, also criticized Trump’s nomination of Claver-Carone, and sources close to the former vice president say he could seek to remove Claver-Carone if elected. The United States is the bank’s largest shareholder.

It was unclear if Argentina and Mexico would seek to delay a vote on the nominations until after Jan. 20, when the next president will be sworn in. A US congressional source said the situation reflected the continuing fallout of Claver-Carone’s contentious election.

“It illustrates that he has not earned the trust and confidence of key shareholders, which begs the question of whether he can deliver on his promise to obtain a capital increase,” IDB sources revealed

Claver-Carone this week said he is pushing to boost the bank’s yearly lending capacity by two-thirds to US$ 20 billion.

The new IDB chief had nominated Reina Irene Mejia, chief executive of Citi Honduras, for the No. 2 job at the IDB, along with former Paraguayan finance minister Benigno Lopez to serve as vice president of sectors, and Richard Martinez, Ecuador’s former finance minister, as vice president of countries, according to sources familiar with the plans.

Claver-Carone was quoted by Argentine newspaper La Nacion as saying that only Mexico and Argentina wanted to delay the vote and the bank should focus on its main job of lending.

Top Comments

Disclaimer & comment rules
  • Chicureo

    Trump will win the reelection and the latest GDP 33.1% release yesterday is another nail in the Democrat Party coffin.

    Oct 30th, 2020 - 05:28 pm 0
  • Fito Garcia

    Good to see Argentina, once again, defending Latin America against the USA puppets and Trump imperialists. We will not accept it. Why not Argentinian, Bolivian, Cuban and Venezuelan bankers as Vice Presidents? What about universal income for all Latin American people? The IDB must be modernized to improve its governance.

    Oct 31st, 2020 - 07:43 am 0
  • Chicureo

    I like the concept of universal income for us.

    How much would they pay me and where exactly will the income derive from?

    If it is sourced from those rich Argentine's living abroad — we can really have a great fun fiesta!

    Oct 31st, 2020 - 06:33 pm 0
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