Eight Caribbean Community (CARICOM) countries are being urged to nominate a candidate for the position of the president of the Inter-American Development Bank (IDB), after the incumbent, Mauricio Claver-Carone, was fired from the post on Monday.
In a statement, Wednesday, the IDB, established in 1959, said it was urging all member countries to propose candidates to replace the United States national who had been at the post since September 12, 2020.
The CARICOM countries which are members of the IDB are The Bahamas, Barbados, Belize, Guyana, Haiti, Jamaica, Suriname, and Trinidad and Tobago.
Jamaica’s Finance and Planning Minister Dr. Nigel Clarke was elected as the chair of the IDB Board of Governors in March.
“The Office of the Secretary of the Inter-American Development Bank (IDB) has notified the bank’s governors that the process to nominate candidates to be the organization’s next president is now open. IDB governors can nominate candidates within the next 45 days,” the IDB said in its statement.
The president of the IDB is elected by the board of governors, where each of the 48 member countries is represented by its governor.
The IDB said to be elected, the candidate must obtain a majority of the voting power of member countries. The voting power varies in accordance with the quantity of shares each member country holds in the IDB’s ordinary capital. The winning candidate must also be supported by at least 15 of the 28 regional members of the region.
The president is elected to a five-year term, with the possibility of a one-time re-election.
Acting IDB President Reina Irene Mejía said the bank, which describes itself as a leading source of long-term financing for economic, social, and institutional development in Latin America and the Caribbean, is continuing its work of improving lives of its 26-member borrowing countries.
“The IDB has a track record of bringing progress and development to the region over more than six decades,” said Mejía, adding the IDB’s work is built on solid institutional foundations, ethical values, and operational excellence.
“Our institution is stronger and more committed to continue making a positive difference in our peoples’ lives.”
The IDB has not given any reason publicly for the dismissal of Claver-Carone, but international media said investigators found evidence to conclude he had a relationship with a staff member who reported directly to him, and to whom he gave raises totaling more than 45 percent of base pay in less than one year.
Last week, Claver-Carone said while he welcomed the findings of an “unprecedented investigation,” the process failed to meet international standards of integrity that both the IDB and the region strive to exemplify.
He had vowed to challenge the findings.
“In clear and direct contravention of IDB ethics rules, neither I nor any other IDB staff member has been given an opportunity to review the final investigative report, respond to its conclusions, or correct inaccuracies.”
CMC/
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