Leer en Español
On April 2021, the directors of the Inter-American Development Bank received an anonymous complaint in their e-mail inbox accusing its president, Mauricio Claver-Carone, of diverting funds and of maintaining a relationship with a member of his team, a relationship that would be contrary to the bank’s rules.
The letter not only omitted the details of the complainants. Nor was any evidence provided, and those involved denied the accusations. However, the Board of Governors ordered an investigation by a law firm to clarify the facts.
Five months later, the investigation has not been able to prove the allegations against him and has concluded that there is no evidence that he has violated the bank’s code of conduct. However, the Board of Governors has used the process to oust the first American to chair the Bank.
The role of the Biden administration could not have been more dishonorable. The U.S. representative on the IDB Board of Directors has pushed for the vote to expel Mauricio Claver-Carone. In doing so, not only have they failed to defend a process with due process for an American citizen, but above all, they are harming American interests in the region in favor of a big winner: China.
Mauricio Claver-Carone was a close associate of President Trump, his presidency at the bank represented a historic opportunity for the United States, the provider of 30% of the bank’s funding. In just two years in office, Claver-Carone succeeded in curbing the bank’s rampant spending; he diversified funding sources by bringing in the private sector and secured unprecedented funding of more than $23.5 billion.
With this decision, which by all accounts appears political and not evidence-based, China, the main strategic threat to the United States, is gaining influence through the back door of our neighbors. What began during the previous president’s term, in which China’s influence in the bank grew so much that in 2019 the IDB’s annual meeting was even held in the Chinese city of Chengdu, continues. And it does so now with the help of President Biden himself.
Vanessa Vallejo. Co-editor-in-chief of El American. Economist. Podcaster. Political and economic analysis of America. Colombian exile in the United States // Vanessa Vallejo. Co-editora en jefe de El American. Economista. Podcaster. Análisis político y económico de América. Colombiana exiliada en EE. UU.