Cecilia Todesca: Argentina nominates Cecilia Todesca to run for president of Inter-American Development Bank

Argentina has also joined the race for the presidency Inter-American Development Bank (IDB), The continent’s most important multilateral lending system. In the deadline for presenting candidates, the government of Alberto Fernández mentioned the current one Secretary of Economic Relations of the Ministry of Foreign Affairs, Cecilia Todesca, an economist who is part of his circle of power. The news comes from Paris, where Fernandez is on tour with Todesca ahead of a delegation to next week’s G20 summit in Bali, Indonesia. Anyway, it was a great surprise. Until now, only Mexico, Chile and Brazil had confirmed candidates, with Argentina not presenting any intention to run. Now begins the lengthy negotiation process to unanimously select a replacement at the IDP Mauricio Claver-Caron was fired at the end of September For his relationship with an employee.

Cecilia Todesca was born 51 years ago in Buenos Aires. He is an economist at the University of Buenos Aires and has a master’s degree at Columbia University. He comes from a Peronist family, and today he is a member of Albertismo, as the small group of high officials still loyal to Alberto Fernández is called. He had a fight with his partner, Cristina Fernandez de Kirchner. His name was once bandied about as a possible economic minister. During Nestor Kirchner’s presidency (2003-2007), his only experience before international organizations was when he was head of Argentina at the International Monetary Fund (IMF). He also worked in the sovereign risk analysis department of risk rating agency Standard & Poor’s. At Casa Rosada, they feel that being a woman adds points to their candidacy, apart from the fact that Argentina has never had a bank address despite being one of the main contributors to the bank.

Argentina’s candidacy is evidence of the lack of agreement with Brazil and Mexico to find a consensus name. The deal comes on the heels of the candidacy of Ian Goldfajn, former head of the Brazilian central bank and current director for the IMF’s Western Hemisphere. Jair Bolsonaro chose Goldfajn as his running mate at the end of his term. If the next president, Luiz Inacio Lula da Silva, gives him support, the election is practically guaranteed. The problem is that Lula has given no indication that the contest is open. The Mexican case also added noise to the process.

The President, Andrés Manuel López Obrador, ECLAC’s former director had nominated Alicia Barsena. But this week Proposed to Gerardo Esquivel, Governor of the Central Bank. Chile also joined this Thursday with the candidacy of General Nicolás Isaguier, former Minister of Economy and Education and Minister of the Presidency during the administrations of Presidents Ricardo Lagos and Michelle Bachelet.

In Argentina’s government, they promise to work for consensus if Lula da Silva withdraws her support for Bolsonaro’s pick. Getting the approval of the US, a major contributor to the IDB with 30% capital, was challenging. Joe Biden’s government was key to Mauricio Claver-Carron’s downfall He reached the presidency of the multilateral bank at the hands of Donald Trump. His appointment created a political crisis in the region He broke with the tradition of reserving the IDB chair to Latin America. Clover-Caron left through the back door in September, after it was discovered He benefited from a raise for an employee he had an affair with. Washington did nothing to save him.

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