US thanks Guyana, El Salvador for IDB nominee’s support

United States Acting Assistant Secretary Michael Kozak has thanked Guyana and El Salvador for the support of the United States’ nominee for the Presidency of the Inter-American Development Bank (IDB), Mauricio Claver-Carone.

Kozak, in a tweet, expressed his gratitude to the two countries and noted that Claver-Carone’s candidacy demonstrates the US’s “commitment to leadership in important regional institutions and will advance prosperity and security in the Western Hemisphere.”
The US Embassy in Georgetown said that, if elected President, Claver-Carone would energise the institution and ensure the IDB supports development in Guyana. It added that the IDB is a key institution in responding to the region’s growing challenges to economic growth and sustainable development, particularly in light of the COVID-19 pandemic.
The Inter-American Development Bank (IDB) was created in 1959 and is today the leading source of development financing for Latin America and the Caribbean.
Earlier this month, the Government of Guyana had thrown its support behind Claver-Carone. This was related by the Foreign Affairs Ministry which said that Claver-Carone’s experience in senior positions of the US Treasury Department, the US National Security Council and as US Executive Director of the International Monetary Fund (IMF) augured well for his presidency.
The IDB is expected to hold elections on September 12 and 13 for a successor to the current President, Luis Alberto Moreno of Colombia, whose term ends on September 30.
The Ministry had said that the nomination of Claver-Carone demonstrates the US’s commitment to leadership in important regional institutions, and the advancing of prosperity and security in the Western Hemisphere. It noted that his leadership of the IDB is expected to strengthen its ability to deliver development impact to the region.
Claver-Carone, as the US Executive Director at the IMF, had represented the United States – the largest shareholder – on the IMF’s Executive Board. At the US Treasury, he served as Senior Advisor for International Affairs.
The IDB plays a pivotal role in the progress and overall development of Guyana and the Latin America and Caribbean region.
Since its founding in 1959, the Washington-based development bank has always been led by someone from Latin America. The current head, Colombia’s Moreno, is preparing to step down after 15 years.
If elected, Claver-Carone said he would serve a single five-year term, according to the International Press. He also vowed to reform the bank to impose term limits for all future Presidents to reflect the region’s own evolving democratic norms.
With 48 Member States, the IDB is the largest source for development financing for Latin America and the Caribbean. The bank’s President is elected by Member States and the Board of Governors. A non-borrowing member of the IDB, the United States controls 30 per cent of the vote, the most of any nation. (G2)