IDB names new executives

IDB names new executives

People Regions Economy & Policy Regulation

The Inter-American Development Bank (IDB) formally unveiled new executive leadership appointments on Friday, naming officers with banking and government service from across the region. 

Candidates for some of the bank's most senior positions are from smaller nations in the region: Honduras, Ecuador, Paraguay, as well as from Argentina, Latin America's third largest economy.

Newly installed IDB President Mauricio Claver-Carone, a US citizen who drew opposition to his appointment, promised to appoint officers from smaller nations to help run the bank. He was formerly a national security advisor to US President Donald Trump before taking his new job in October.

In a statement, the IDB said the 14-member Board of Executive Directors appointed Reina Mejía as Executive Vice President, the bank's No. 2 job; Richard Martínez as Vice President for Countries; Benigno López as Vice President for Sectors and Knowledge; and Gustavo De Rosa as Vice President for Finance and Administration.

Mejía is a 25-year veteran of Citibank Honduras, where she served as the chief executive officer since 2013. She assumes her new role on December 16, 2020, the statement said.

Martínez, who takes up his new office on November 16, previously served as Ecuador's Minister of Economy and Finance. 

López was, until his appointment to the IDB, the Minister of Finance of Paraguay. He starts his new job November 16th as well.

De Rosa, of Argentina, has served since 2015 as the IDB's Chief Financial Officer. He takes up his new executive role January 1, 2021.

The IDB, founded in 1959, has 48 member nations, 26 of which are borrowers. It is the main multilateral development bank focused on Latin America and the Caribbean. The United States is the largest shareholder in the IDB at 30%, followed by Argentina and Brazil which both hold an 11.35% stake in the bank.