Inter-American Development Bank President Claver-Carone ousted after ethics probe
Mauricio Claver-Carone has been terminated as president of the Inter-American Development Bank (IADB), its board of governors announced Monday.
His departure will set off a formal process to find a replacement for the bank to help counter China's influence in Latin America.
The termination comes after a report revealed that he allegedly threatened to "burn" or "bring" the bank down over an investigation into claims that he had an affair with a staffer, which he denies.
Claver-Carone, 47, who was nominated by former President Trump, was the first American to hold the position. His exit will set off a scramble among member countries on who should head the bank.
He told Reuters on Monday that he plans to pursue legal action.
It also demonstrates that the Biden administration - whose representative voted to expel the Cuban-American hard-liner - is willing to cut loose Trump appointees, which could spell trouble for David Malpass at the World Bank.
At: https://www.axios.com/2022/09/27/inter-american-development-bank-president
Outgoing IDB President Mauricio Claver-Carone in happier days, after former President Trump nominated him to the powerful post in 2020 - which since the IDB's establishment in 1959 had been held by a Latin American official instead.
Claver-Carone was forced out following revelations he had installed his underqualified lover into a high-level, $400,000-a-year post with an office adjacent to his.
The hard-line Cuban-American had previously been installed by Trump into the IMF board of directors - during which he earned notoriety for forcing through a record, $57 billion bailout for former Argentine President Mauricio Macri, a longtime Trump friend who faced an ill-fated re-election fight in 2019.
Claver-Carone had recently blocked $1.2 billion in loans to cash-strapped Argentina already approved by the bank's board of directors - though a meeting with Economy Minister Sergio Massa resolved the delay.
