The president of the IDB, Mauricio Claver-Carone, warned this Wednesday that the « political intrigue » in Washington could harm the institution, at a time when the bank seeks an increase in its capitalization that must be approved by Congress in the case of States. United.
Claver-Carone, who was an adviser to the Donald Trump administration, defends a capital increase of the bank of 80,000 million dollars, an initiative that requires the approval of Congress in Washington, since the United States is the largest shareholder of the institution.
« If you inject political intrigue and political speculation into the bank’s issues, it’s going to hurt our ‘AAA credit rating, » Claver-Carone said in a virtual colloquium.
If we focus on politics and patronage, everyone loses, « he warned.
For the IDB president, this will translate into « fewer vaccines for the region, less financing for climate projects, less funds for small businesses led by women, and less impact (by the agency) in the region. »
The pandemic has affected millions of workers. The US Congress is in negotiations to approve a new fiscal stimulus package. Photo: AP
The election of Claver-Carone, an American, to head the multilateral organization created risks in the region, since it broke an unwritten pact according to which during its more than 60 years of existence the bank was always headed by a Latin American.
« I am very confident that we are going to get this capital increase, » said the Miami-born attorney who took over the bank in October.
In December, Democratic Senator Bob Menéndez and his Republican colleague Marco Rubio presented a bill for the United States governor at the bank – which is the majority shareholder – to vote in favor of a capital increase of $ 80 billion.
The United States Congress faces a tough fight to approve an economic relief plan for the Covid-19 crisis for 1.9 trillion dollars.
Claver Carone said this month that he seeks a « bipartisan consensus » in Washington to make this capital increase a « Marshall Plan for the region, » in reference to the US program to rebuild Europe after World War II.
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