IDB Pushes Private Sector
Repositioning the IDB to better address private sector needs is underway. IDB president Luis Alberto Moreno must produce results quickly to validate his vision.
The Washington DC headquarters of the Inter-American
Development Bank (IDB) feel like a different place two years
after Luis Alberto Moreno took the helm as president. There is
less apathy and a tangible sense of industriousness as Moreno
starts to deliver on his pledge to make the multilateral more
In Latin America, where the private sector has usurped the
public sector as the driver of economic productivity,
multilaterals from the IMF down have struggled to find a
purpose. The IDB began in July the shift from a loosely
affiliated group of three financial institutions to a
streamlined matrix structure more typical of private sector
banks. Moreno introduced a hierarchical structure, with an
executive vice presidency and four vice presidents cementing a
model that is less centralized. "We need to have a change of
culture in the bank, and in a related way more accountability
within the institution," Moreno tells...
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