The Islamic Development Bank: After Claver Caron, the Bank’s leadership returns to the region | Finance | Economie

Everything seems to indicate that the upcoming presidential election at the Inter-American Development Bank (IDB) will include a series of components that will set a precedent in the modern history of the multilateral institution.

(The Islamic Development Bank dismisses its boss for an intimate relationship with a subordinate.)

This window opens after Cuban-American Mauricio Claver Carone is fired after an investigation into an alleged romantic affair with a subordinate and embezzlement.

In place, while making the call and identifying the new leader, Honduras Rena Mejia Chacon, Executive Vice President, will take over the temporary mandate.

This organization is well perceived in Latin America, particularly within the leaders of public institutions and among the elites, and has worked to ease material constraints and assist in technical development on the one hand. Fernando Giraldo, professor of international relations at Gaviriana University, said different governments, left and right, have a respectful policy toward the bank.

(“Latin America is the key to facilitating the flow of raw materials”: ​​Islamic Development Bank).

Since its founding, the entity has always been led by a Latin American, but that tradition was broken with Claver-Carone (October 2020 – September 2022), a record for then-US government Donald Trump.

“It was too bad that they chose Claver-Carone, because the institution has always been appreciated as a form of cooperation towards the development of Latin America where the region has had its own voice,” said Mauricio Jaramillo, professor of international relations at the National Institute of International Relations. University of Del Rosario.

Now, with this background, The region begins to bet on a new Latin American sound, Where the technocratic personality, the woman and the political touch, are the qualities that experts raise in this regard.

In fact, the rattle of the candidates is already starting to move around this election and there is already speculation about three names of highly technical women.
Michelle Bachelet, former President of Chile and former United Nations Commissioner for Peace, is one of the chips that is beginning to appear in the world media. There is also former Costa Rica Vice President Laura Chinchilla, who ran in the previous contest, and former Celac CEO, Mexican Alicia Barcena.

These files, according to global media, match what experts have said about the qualities that such a leader should have.

This time they will try to comply with these conditions by being a woman and being from Latin America. “I don’t think there will be much discussion, but there will be efforts to return to the tradition of being from the region,” Jaramillo said.

For his part, Giraldo suggests that on this occasion, one of the traits that this person should have is a “strong political personality”, which he does not consider completely wrong, “because the region is going through a very difficult situation”, since more. What happens internationally and affects the region internally “There is a very deep social crisis and it is better for those who lead these organizations in the region to realize these misfortunes that a large part of the population is exposed to.”

According to the internal regulations of the Islamic Development Bank, The President is elected at an annual meeting of the Board of Governors (Treasury or Finance Ministers) or in an extraordinary meeting at the bank’s headquarters.

Now, Portafolio has learned that the entity will be notified when the selection process begins and once that happens, it will have 45 days to present candidates and 60 days (from the start) to hold elections.

(The Islamic Development Bank approved $300 million for Colombia: what would you use it for).

Here the percentage that countries have to vote on electing their maximum number comes into play. The United States, for example, retains 30% of the selection power.
followed by Argentina and Brazil with 11.4% each, followed by Mexico with 7.3%, and Japan with 5%; Canada with 4%; Venezuela by 3.40%, Chile and Colombia by 3.12%.

In this sense, the effect of political reconfiguration and the rise of the left again in the region in a large part of the mentioned countries, This block can make an election condition.

Rouge Giraldo: “The arrival of this block will certainly affect a person from the area trying to get there and right, close to the left, but not necessarily far to the right.”

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