The brand new U.S. chief of the Inter-American Improvement Financial institution has nominated Reina Irene Mejia, chief government of Citi Honduras, for the No. 2 job at Latin America’s foremost improvement financial institution, folks conversant in the matter mentioned on Wednesday.
IDB President Mauricio Claver-Carone, who took over on Oct. 1, is assembling a brand new management group that he promised can be each numerous and signify the smaller international locations within the area, which have by no means held senior management positions on the financial institution. If confirmed as government vp, Mejia can be the highest-ranking Latin American lady to ever serve on the IDB.
The IBD’s 14-member board of government administrators will vote on the nomination subsequent week, together with these of former Paraguayan finance minister Benigno Lopez, as vp of sectors, and Richard Martinez, Ecuador’s former finance minister, as vp of nations, the sources mentioned. Each males resigned from their authorities positions this month.
A spokesman for the Financial institution declined to remark. Mejia, Citigroup’s company and funding financial institution head for Honduras, joined the U.S. financial institution in 1996. She was the primary Honduran lady appointed as CEO of Citi Honduras, and is the present president of the American/Honduran Chamber of Commerce.
One of many sources described Mejia as “powerful however diplomatic,” and mentioned she would complement effectively Claver-Carone, a Cuba hardliner and the primary U.S. citizen ever elected to go the IDB in its 61-year historical past. Claver-Carone has vowed to strengthen the Financial institution’s funding base, improve transparency and construct extra unity within the area. He has pledged to serve just one five-year time period as president.
Mejia’s finance background might assist assuage considerations raised about Claver-Carone’s lack of banking expertise. Earlier than becoming a member of the IDB, Claver-Carone had served as U.S. President Donald Trump’s senior Latin America adviser, advocating for larger U.S. private and non-private engagement within the area. A supply conversant in Claver-Carone’s pondering mentioned Mejia’s intensive work with small- and medium-sized companies that drive development within the area – and her concentrate on feminine enterpreneurs can be useful as he seeks to reshape the financial institution and increase its capital base.
September’s vote on Claver-Carone’s nomination was contentious, pitting the Trump administration, which is eager to achieve leverage in resource-rich Latin America and counter the rise of China, in opposition to Argentina and different regional powers loath to lose management of the lender’s prime job. The financial institution has been led by Latin People since its inception in 1959, whereas the No. 2 place – functionally the financial institution’s chief working officer – has historically been held by a U.S. citizen. If confirmed, Mejia would exchange John Scott, who’s serving in that position on an interim foundation.
In a weblog printed on Citi’s web site in 2016, Mejia mentioned she earned each a bachelors diploma in economics and an MBA in finance from Southern Illinois College, earlier than becoming a member of Citi.