Multi-lateral agency the Inter-American Development Bank (IDB) is moving quickly to replace its sacked president, Mauricio Claver-Carone, who was held to have committed a number of improprieties.

A Special Meeting of the Board of Governors for the Election of the President of the IDB will be held over two separate dates, November 13 and November 20.

Governors who are usually finance ministers or other top economic authorities from the IDB’s 48 member countries have until November 11 to nominate candidates.

It is hoped that this time the IDB can make a worthy slection. Before Claver-Carone, former diplomat and businessman Luis Alberto Moreno from Colombia did a good job and was a credit to the institution.

He was appointed in 2005, re-elected in 2010 and again in 2015. He was able to secure US$4.4 billion in debt relief for many countries in the region including Guyana and Haiti. He created IDB Invest, the Group’s private sector arm.

Last year, Therese Turner-Jones, who served as the IDB’s Caribbean country manager, was inexplicably dismissed. She is generally acknowledged as being very bright and capable and a shining star at the IDB. Claver-Carone chose not to proffer an explanation for her departure. Now he has been ignominiously terminated following a probe into allegations that the Trump appointee had an inappropriate relationship with a subordinate and that they both misused IDB funds.

In September of this year, the Board voted to remove Claver-Carone. Responding to this decision by his superiors, Claver-Carone said the IDB had denied him due process and that he would be pursuing legal action for breach of contract and possible defamation.

Subsequent investigations found that Claver-Carone created a hostile environment with numerous staff members fearing reprisals and retaliation for participating fully and honestly in the probe.

Earlier this year, Jamaica’s Minister of Finance Dr Nigel Clarke was elected chair of the IDB Board of Governors and will be presiding over the appointment of a new president.

At the November 13 virtual plenary session, governors who have nominated candidates will introduce their nominee. Each candidate will then make a presentation to the governors who will have the opportunity to ask questions.

The second and third plenary sessions, to take place on November 20, will be held at the Bank’s headquarters in Washington DC. Governors and their delegations may attend in person or virtually. These sessions will include the confidential voting process for the president.

To be elected, a candidate must obtain a majority of the total voting power of the Board’s member countries, including an absolute majority of the governor’s regional members.

When the election is completed, the president-elect will be invited to address the Board of Governors.

The sessions will be closed to the public.