Saturday, December 10

Development bank fires director after ethics probe


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MIAMI (AP) — Governors of the Inter-American Development Bank have voted to fire its president, Mauricio Claver-Carone, after an ethics investigation found he carried on a relationship with a subordinate, a person familiar with the vote told The Associated Press.

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The governors had until Tuesday to vote electronically on whether to sack Claver-Carone, but enough ballots had been cast by Monday afternoon to remove the first American to lead the bank, the person said.

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An investigation conducted at the bank board’s request determined that Claver-Carone violated ethics rules by raising the salary of his chief of staff, with whom he had a romantic relationship from at least 2019, when both worked at the White House, according to a copy of the report obtained by the AP.

Claver-Carone has denied the relationship and said that the investigation was seriously flawed.

The bank’s executive board voted unanimously last week to urge governors to remove Claver-Carone. According to bank rules, executive vice president Reina Mejia, a Honduran national who spent most of her career at Citibank in Central America, will take over from Claver-Carone .



financialpost.com