Sep 1, 2005

Our Man at the IDB
Colombia's ambassador to Washington, Luis Alberto Moreno, won a decisive election victory to take over as president of the Inter-American Development Bank. He soundly beat rivals from Brazil, Peru and Venezuela, thanks to strong support from the US, which holds 30% of the bank's shares. Moreno is one of Latin America's most accomplished diplomats in Washington. IDB watchers say he needs to engage more closely with non-governmental organizations and develop new products better suited for private sector borrowers as lending to governments declines.

Promotion at Petrobras
The Brazilian government promoted José Sérgio Gabrielli to become president of Petrobras, the state-controlled national oil company. Gabrielli takes over from Eduardo Dutra, who quit to run for the Senate on the ruling Workers Party ticket. Gabrielli has served as CFO at Petrobras since March 2003. He is a former economics professor who has impressed markets for his...

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