Brazilian economist will lead regional development bank

NEW YORK (AP) — Latin American governments have selected Brazilian economist Ilan Goldfajn to lead the region’s largest development bank. It follows a misconduct probe that led to the firing of the previous president. Governors from the Inter-American Development Bank’s 48 members selected Goldfajn on Sunday to lead the Washington-based multilateral lender. Other candidates had been nominated by Argentina, Chile, Mexico and Trinidad & Tobago. The bank last year disbursed a record $23 billion to alleviate poverty made worse by the coronavirus pandemic in the region. The U.S. is the largest shareholder, with 30% of voting rights.