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President of the Inter-American Development Bank Mauricio Claver-Carone
Claver-Carone has been president of the IDB since October 2020Image: Nathalia Aguilar/Agencia EFE/imago images
BusinessUnited States of America

Latin America bank directors urge firing Trump-era chief

September 23, 2022

Mauricio Claver-Carone, president of Latin America's largest development bank, was found to have violated ethics rules by investigators. US President Joe Biden's administration has been pushing for his removal.


The 14 directors on the board of the Inter-American Development Bank (IDB) have voted unanimously to recommend firing President Mauricio Claver-Carone, sources said on Thursday. 

The move comes after an independent investigation confirmed misconduct allegations against Claver-Carone, who was nominated for the job in 2020 by then-US President Donald Trump.

His fate now lies in the hands of the governing board of the IDB representing all 48 of the bank's member nations.

US Treasury Department wants him out

A US Treasury spokesperson said Washington backed Claver-Carone's removal from office and urged "swift resolution" by the IDB's governors. 

"His creation of a climate of fear of retaliation among staff and borrowing countries has forfeited the confidence of the [IDB's] staff and shareholders and necessitates a change in leadership,'' the spokesperson said.

The US is the bank's largest shareholder, with 30% of its voting shares.

An independent probe was set up against Claver-Carone after a complaint that he allegedly had an intimate relationship with an employee in violation of the bank's rules.

Tthe investigation found that he had favored this top aide with whom he had had a romantic relationship, according to the Associated Press news agency.

In a statement, Claver-Carone slammed the US Treasury's comments. "It's shameful the US commented to the press before notifying me and that it is not defending two Americans against what is clearly fabricated information," he said.

He also claimed that Washington was "handing" the IDB to China by backing his removal from office.

The Claver-Carone affair comes as World Bank President David Malpass is also under pressure to resign after he failed to state that he accepts the scientific consensus on climate change.

fb/aw (AP, EFE, Reuters) 

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