Bank Shot

The Inter-American Development Bank, the IDB, says its mission is to “improve lives in Latin America and the Caribbean,” support countries “working to reduce poverty and inequality,” and “achieve development in a sustainable, climate-friendly way.”

For the past two years, for the first time in its 62-year history, the IDB has had an American president: Mauricio Claver-Carone. His goals have included implementing policies beneficial to the United States and countering Beijing’s push for influence and privileges at the bank.

He also ended the practice of Latin American governments using the IDB for patronage jobs – a place to park cronies and politically connected but mediocre economists including those from the region’s socialist and anti-American countries.

His reward: He’s been fired — by the Biden administration. China’s rulers and the leftist regimes of Latin America are undoubtedly celebrating.

Mr. Claver-Carone joins host Cliff May to tell his story and discuss what he thinks is happening at the IDB.

More on FDD.org: https://www.fdd.org/podcasts/2022/10/07/bank-shot/