At that point, it would play a key role what was announced on September 6 by the Minister of Economy, Sergio Massa, from the United States. During his tour, the head of the Palacio de Hacienda confirmed the reopening of the programs with the IDB and explained that Some US$3 billion will arrive in the country before the end of the year and US$1.2 billion will go directly to strengthening reserves of the Central Bank, of which it is expected that at least US$500 million will enter in the coming days. But the main thing is that by signing the new schedule, the agreement would have been sealed.
In that sense, the bank’s statement noted that “the IDB Group and its teams continue to operate normally, to fulfill the mission of improving lives in Latin America and the Caribbean.”
In the current context of dollar scarcity these disbursements are vital to sustain the nlevel of activity but also to meet the reserve accumulation goal set with the IMF. In its latest statement, the Fund maintained that “most of the objectives of the quantitative program until the end of June 2022 were met, with the exception of the floor of net international reserves.” In this sense, they pointed out that the objective was not achieved due to “a growth in the volume of imports higher than programmed and delays in external official support.” The bulk of the disbursements planned by multilateral organizations, not counting the Fund itself, correspond to the IDB.
“In accordance with the Constitutive Agreement of the IDB, the executive vice president, Reina Irene Mejía Chacón, will serve as President, under the direction of the Executive Board, until a new President is elected,” the agency said in a statement. Although it is expected that in the coming weeks there will be a debate among the member countries to define a new leadership.
The investigation against Claver Carone
The governors of the Inter-American Development Bank unanimously voted to dismiss Claver Carone, the only US president in the institution’s history.
Last March, the IDB board received an anonymous complaint in which the official was accused of having a romantic relationship with an employee who, in addition, would have benefited from a substantial increase in her salary, according to the newspaper El País from Spain.
The board hired a law firm to conduct an internal investigation. In that instance, Claver Carone had the opportunity to appear but, even in that instance, he would have withheld information about the facts. The finding was presented in a confidential report that later led to meetings and a decision made by the countries. The United States, Brazil and Argentina are the main shareholders of the bank and concentrate 53% of the votes.
Source: Ambito
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