Ilan Goldfajn's election to IDB brings recognition to Brazil

The election of former Central Bank head Ilan Goldfajn as president of the Inter-American Development Bank (IDB) represents the recognition of the platform presented by Brazil, informed the Ministry of Economy on Sunday (Nov. 20).

In a statement, the ministry celebrated the victory and highlighted that the result was achieved after a campaign led by the Brazilian government. Goldfajn's administration will have three central axes: improvement of physical and digital infrastructure, with mobilization of private resources and expansion of regional integration; fight against poverty, inequality, and food insecurity; and fight against climate change and protection of biodiversity, the statement reads.

"The result was achieved after a campaign led by the Ministry of Economy. The Brazilian candidate achieved a large majority, exceeding the criteria of percentage of the Bank's voting capital and regional support, which allowed the election to be concluded in the first round," the statement pointed out.

The note from the Ministry of Economy cited Goldfajn`s qualities, for instance, that he is the first Brazilian elected to the position since IDB was founded in 1959. It highlighted his "distinguished track record in the public and private sectors" and "recognized experience as an academic." Goldfajn was Brazil's Central Bank head from 2016 to 2019, and until recently he was director of the Western Hemisphere Department at the International Monetary Fund (IMF).

IDB

As the world's largest multilateral financial institution for development and integration, the bank operates in areas such as education, health, and infrastructure to provide a quality of life for the people of Latin America and the Caribbean, and it is the main source of financing for development in the region.