Gerardo Esquivel: López Obrador rejects the election at the IDB: “It’s more of the same”

The president of Mexico has rejected the last election in the Inter-American Development Bank (IDB), where the Brazilian Ilan Goldfajn obtained 80% of the necessary votes to occupy the presidency of the organization. “There is no change in the election of the director of the IDB, it is more of the same, it is what has been applied throughout the neoliberal period, they agree with the approval of the United States and that is how they choose,” declared the president this morning at his press conference from the National Palace.

Gerardo Esquivel, current deputy governor of the Bank of Mexico and the candidate proposed by López Obrador to preside over the IDB, obtained 8.21% of the votes and the green light from three regional governors, something that the president regretted. “It is unfortunate that this continues to happen, there are no changes and we are going to look for options, of course consulting Gerardo, who is a good public servant,” said the Tabasco politician.

The succession at the IDB has not gone down well with the Mexican government. This weekend, the Ministry of Finance issued a brief but forceful statement rejecting the vote in favor of Goldfajn. “We regret that in the IDB elections the policy of more of the same continues. The proposal of the Brazilian government was chosen, supported by the United States,” the agency said.

Esquivel has been deputy governor of the Bank of Mexico since January 2019 and was part of López Obrador’s presidential campaign in 2018 as an economic adviser. “We are going to explore other possibilities in the government itself or in representations of Mexico abroad,” said the Mexican president. Esquivel ends his term as deputy governor of the central bank in December this year, but the candidate to take Esquivel’s job at Banco de México has not yet been announced.

Next December 19 is the start date of Ilan Goldfajn’s functions as head of the IDB, and he will have an initial mandate of five years as head of the multilateral institution. In an interview with EL PAÍS prior to his election, the Brazilian said that his priorities will be the fight against poverty and inequality, including a better distribution and production of food, the fight against climate change and the promotion of infrastructure, both physical and digital, to improve connectivity between the different countries of the region.

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