Battle brews for control of Latin American lender as some reject President Donald Trump's candidate. CassLGarrison & andrea_shalal report
BUENOS AIRES/WASHINGTON - A battle is brewing for control of Latin America’s main development bank.
However, his candidacy has riled others in the region. He would be the first person from outside Latin America to lead the Washington-based IDB, a smaller cousin of the IMF that has been led by Latin Americans since its founding in 1959. In an interview with Reuters last week, Claver-Carone acknowledged there had been some regional push-back, but brushed it off and said that he had “overwhelming” support, citing public backing from 15 countries and six more privately.
He also said the United States is looking at offering incentives to companies to bring as much as $50 billion in U.S. investment back to the Americas from Asia.Blocking the election of Claver-Carone may prove tough with the muscle of the United States, which holds 30% of the bank’s voting power. A second Argentine official said a delay beyond the Sept. 12 vote was “an option that would suit us” and said the country was confident its candidate would gain Mexico’s support. Both officials declined to be named.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
How Marco Rubio runs Trump's Latin America policyWhen President Donald Trump took office, he passed down one key instruction on how to handle Latin America: Make Marco Rubio happy
Read more »
August could be key in Latin America's coronavirus fightAcross Latin America, skyrocketing new infection numbers are reaching even the highest circles, a sign of how pervasive the coronavirus has become -- and how ineffective many government efforts have been to stop it so far.
Read more »
Latin America sees coronavirus records tumble as cases near 5 millionArgentina broke past 200,000 COVID-19 cases on Sunday and Colombia set a daily record as grim milestones topple in Latin America, pushing the world's worst affected region towards a combined 5 million cases.
Read more »
Latin America coronavirus death toll surges past 200,000The death toll in Latin America from the novel coronavirus passed 200,000 on Saturday night, a Reuters tally showed, underlining the region's status as one of the global epicenters of the pandemic that is testing governments to the limit.
Read more »
5 Uplifting Moments in Latin Music This Week (August 1)Billboard editors highlight the latest news buzz in Latin music every week. Here&39;s what happened in the Latin music world the week of August 5.
Read more »
Home brewing equipment is flying off the shelves in the summer of coronavirusMilwaukee stores like Spike Brewing and Northern Brewer are seeing a boom in home-brewing equipment sales as people stuck at home pursue their brewing hobby.
Read more »