Trump Hits Wall With Bid to Place Ally at Latin America Bank

[Judi Lynn]

By Eric Martin

August 7, 2020, 10:50 AM CDT Updated on August 7, 2020, 2:04 PM CDT

Mexico joins Chile, European Union in backing IDB vote delay

Urging comes after U.S. decided to seek the job for first time

Mexico called for delaying the election of a new chief for a key Latin American development bank amid controversy caused by U.S. President Donald Trump’s push to have a close ally at the helm of the institution.

Mexico’s finance ministry announced Friday its support for a postponement of the vote on the next president of the Inter-American Development Bank, expected next month, saying the issue requires more dialog to decide the role for the institution amid the global pandemic. The move comes after the European Union and then Chile said they support a vote delay.

Postponing the election would be a setback for Trump, who in June launched his senior adviser for Latin American issues, Mauricio Claver-Carone, to head the Washington-based institution. While Claver-Carone portrays himself as a breath of fresh air for an organization that has had just four chiefs in six decades, his eventual presidency would also mean breaking a non-written tradition where a Latin American heads this bank.

The move triggered criticism from politicians and former diplomats in the region including Brazil’s Fernando Henrique Cardoso and Colombia’s Juan Manuel Santos, who in June penned a letter calling for country members to reject the U.S. nomination.

More:
https://www.bloomberg.com/news/articles/2020-08-07/mexico-seeks-to-delay-election-of-inter-american-bank-president-kdkj5dzj

[Karadeniz]

1. Trump dabbling in banking...oh, joy.

[Scarsdale]

2. So, I guess

Ivanka did not want the job? She refused the job as head of the World Bank. What she really wants is to be the first female president.

[sandensea]

3. She'd actually be preferable - or at least no worse

This is a man (Claver-Carone) who just admitted that he practically forced the IMF to give former Argentine President Mauricio Macri a $57 billion bailout over the IMF's objections as essentially a campaign contribution - and at Trump's behest.

Simply because Macri was a right-winger and, you'll recall, a longtime friend of Trump's.

Now Argentina is on the hook for $45 billion (Macri's successor refused to keep drawing from the credit line) - and may or may not be able to pay it back, depending on how successfully Fernández can stabilize external accounts (they're getting there).

So you can imagine how Claver-Carone would run IADB: as a slush fund for Trump butt-kissers in the region.