Ilan Goldfajn was elected the new head of the IDB (Photo: AFP)
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the brazilian Ilan Goldfajncurrent director of the Western Hemisphere of the IMF, will be the new president of the Inter-American Development Bank (IDB). It was decided by the Board of Governors of the organization and had the support of Argentina, which finally declined the candidacy of Cecilia Todesca.

Goldfajn obtained 80% of the votes and won the fight against Argentina Cecilia Todesca Boccothe Chilean Nicolas Eyzaguirrethe Mexican, Gerardo Esquivel, and the trinitarian, gerard johnson. He had been proposed as Brazil’s candidate by the current president, Jair Bolsonaro, and became the first Brazilian to take the reins of the entity.

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The finance ministers and other economic authorities of the 48 countries that make up the IDB gave their support to the Brazilian, by a large majority, two months after the scandalous departure of the American of Cuban origin, Mauricio Claver-Carone.

The government of Alberto Fernández had recently declined the nomination of the Secretary for International Economic Relations, Cecilia Todesca. According to her, she transcended, Argentina will remain with the vice presidency of Sectors, the Infrastructure Management and the new Institute of Gender and Equality.

Who is Ilan Goldfajn, the new president of the Inter-American Development Bank

The new head of the IDB is 56 years old and was born in Haifa, Israel. His family moved to Brazil and he studied at the Brazilian Israeli College A. Liessin in Rio de Janeiro and later graduated in Economics at the Federal University of that city. In addition, he obtained a master’s degree in Economics in 1991 from the Pontifical Catholic University of Rio de Janeiro and received a doctorate in the same specialty from the Massachusetts Institute of Technology (MIT).

Ilan Goldfajn was elected the new head of the IDB (Photo: AFP)

He joined the IMF in the mid-1990s and was appointed director of the Central Bank of Brazil in 2002. He was also chief economist at Itaú Unibanco. He was a founding partner of Ciano Investimentos, and Partner and Economist at Gávea Investimentos.

He also served as Chairman of the Advisory Council of Credit Suisse Brazil and worked as a consultant for the World Bank, the United Nations and the IMF.

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Between May 2016 and February 2019, he held the position of Governor of the Central Bank of Brazil (BCB). This year he was proposed by Bolsonaro to take charge of the IDB. Currently, he was working as Director of the Western Hemisphere of the IMF.

Ilan Goldfajn, a well-known man in Argentina

The name of Goldfajn is known in Argentina. He played a key role in the renegotiation of the agreement between the country and the IMF for US$55,000 million agreed during the government of Mauricio Macri. He also in the negotiations on the fulfillment of the goals with the organism.

The lack of support for Cecilia Todesca led the Argentine government to align with the Brazilian candidate, despite having been recommended by Bolsonaro. After winning the elections Lula supported his candidacy, which ended up tilting the Argentine election towards the Brazilian economist.

Ilan Goldfajn, new head of the IDB
Ilan Goldfajn, new head of the IDB

His figure does not generate enthusiasm in the Government. As the IMF’s Western Hemisphere director, he said the Argentine economy is “unviable.” He had even shown an extremely pessimistic position on the agreement that the country still maintains.

Goldfajn will thus replace Mauricio Claver-Carone, dismissed in September for having given favorable treatment to an employee with whom he had an intimate relationship.

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