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Search resuls for: "Ilan Goldfajn"


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[1/2] Fishermen go out to sea after Ecuador's goverment expanded the protected marine area around the Galapagos Islands, Ecuador January 24, 2022. REUTERS/Santiago Arcos Acquire Licensing RightsLONDON, Dec 4 (Reuters) - A consortium of top multilateral development banks (MDB) and climate funds launched a global "task force" on Monday to scale up the number and size of 'debt-for-nature' swaps that countries can do. It will initially be led by the Inter-American Development Bank (IDB) and the U.S. International Development Finance Corporation (DFC), lenders which between them have been involved in all the recent swaps, also including Barbados and Gabon. The Asian Development Bank, the African Development Bank, France's Agence Française de Développement, and the European Investment Bank will also be part of the task force, as well as the Green Climate Fund and the Global Environment Facility. Development banks play a particularly important role in debt-for-nature swaps because they provide the credit guarantees and/or political risk insurance that make them viable.
Persons: goverment, Santiago Arcos, Ilan Goldfajn, Scott Nathan, Marc Jones, Kirsten Donovan Organizations: REUTERS, Santiago, Reuters, Inter, American Development Bank, U.S . International Development Finance Corporation, Asian Development Bank, African Development Bank, France's Agence Française, European Investment Bank, Climate Fund, Global, Thomson Locations: Ecuador, Belize, Barbados, Gabon
Global leaders react to Milei's Argentina victory
  + stars: | 2023-11-20 | by ( ) www.reuters.com   time to read: +4 min
ARGENTINE PRESIDENT ALBERTO FERNANDEZ"I am a man of democracy, and I value nothing more than the popular verdict. I trust that tomorrow we can start working with Javier Milei to guarantee an orderly transition." FORMER ARGENTINA PRESIDENT MAURICIO MACRI"I congratulate Javier Milei for bravely representing the will to advance and prosper that lives in the hearts of Argentines. WHITE HOUSE NATIONAL SECURITY ADVISOR JAKE SULLIVAN"I congratulate Javier Milei on his election as president of Argentina and to the people of Argentina for holding free and fair elections. FORMER U.S. PRESIDENT DONALD TRUMP"Congratulations to Javier Milei on a great race for president of Argentina.
Persons: Javier Milei, ALBERTO FERNANDEZ, MAURICIO MACRI, JAKE SULLIVAN, DONALD TRUMP, ILAN GOLDFAJN, LUIZ INACIO LULA DA SILVA, SANTIAGO PENA, GUSTAVO PETRO, Milei, GABRIEL BORIC, Sergio Massa, LUIS LACALLE POU, DINA BOLUARTE'S, JAIR BOLSONARO, Javier Milei's, ARGENTINA DMITRY FEOKTISTOV, Brendan O'Boyle, Lidia Kelly, Chris Reese Organizations: ARGENTINE, IDB, PARAGUAYAN, America, URUGUAYAN, Thomson Locations: ARGENTINA, Argentina, Argentine, Colombia, Chile, Peru, Argentine Republic, South America, United States, Brazil, RUSSIAN, BRICS
Yellen, who hosted a breakfast for leaders from the Americas Partnership for Economic Prosperity before a White House summit, said Treasury strongly supported efforts by IDB President Ilan Goldfajn to reform the regional development bank's private sector arm, IDB Invest, and backed a capital increase for it. "My team at Treasury is working closely with President (Ilan) Goldfajn and IDB Group shareholders to define the policy reforms and financial scenarios that would enable a significant capital increase for IDB Invest," she said. Yellen told an IDB conference on Thursday that additional capital would help increase IDB Invest's impact and ability to better mobilize private capital to the region, as APEP partners work to shift supply chains away from China and expand "nearshoring" options closer to home. Yellen also said on Thursday that the "originate-to-share" approach adopted by IDB Invest CEO James Scriven was pioneering a new way for multilateral development banks (MDBs) to leverage private sector capital, an innovation being closely watched by others. The move by IDB follows efforts by China to increase its influence in Latin America, through increased direct lending to Latin American governments and boosting trade ties to resource-rich South American countries.
Persons: Janet Yellen, Ilan Goldfajn, Ilan, Goldfajn, Yellen, James Scriven, Andrea Shalal, Christina Fincher, Paul Simao Organizations: . Treasury, Inter, American Development Bank, Americas, Economic Prosperity, Treasury, IDB Invest, IDB Group, IDB, Thomson Locations: United States, America, Caribbean, Washington, U.S, Latin America, China, Mexico
WASHINGTON (AP) — Treasury Secretary Janet Yellen wants Latin America to trade more with the United States as part of an initiative that so far has failed to disrupt China’s dominance in global manufacturing. The Inter-American Development Bank, which is the biggest multilateral lender to Latin America, would support new projects through grants, lending and new programs. But if you’re not involved, this opens the door for anybody” to invest in Latin America. Latin America will be a region of increased focus in the next year, as Brazil takes the presidency of the Group of 20 international forum. A Treasury official told the AP that Yellen will be traveling frequently to South America and Latin America over the next year, due to Brazil's G-20 presidency.
Persons: Janet Yellen, Yellen, ” Yellen, Ilan Goldfajn, you’re, Organizations: WASHINGTON, , Inter, American Development Bank, Partnership, Economic Prosperity, , White, , Boston University Global Development, El, Associated Press, Treasury Department, Treasury, AP Locations: America, United States, U.S, Caribbean, Peru, Chile, Ecuador, Uruguay, Dominican Republic, Costa Rica, China, South America, American, Honduras, Taiwan, El Salvador, Nicaragua, Panama, Brazil, Latin America
The growing appetite comes as record numbers of developing world governments face debt pressures due to higher global interest rates. There have been around 140 over the past 35 years, but even including last month's super-sized Galapagos deal they have only involved around $5 billion of debt altogether. The top-level attendees will be urged to do more, not only debt swaps, but also by providing foreign exchange guarantees and automatic debt-payment breaks for countries hit by climate-related disasters. "Seeing something that has a group of countries involved would be amazing," Issa said. Ecuador says it is eyeing another transaction to capitalise on the halo effect from the Galapagos deal.
Persons: Ramzi Issa, Charles Darwin's, Issa, Ilan Goldfajn, Scott Nathan, Nathan, Emmanuel Macron, Mia Mottley, Suisse's Issa, Simon Jessop, Sharon Singleton Organizations: Ecuador, Credit Suisse, Inter, American Development Bank, U.S . International Development Finance Corporation, Reuters Graphics, Thomson Locations: Ecuador, Belize, Barbados, Gabon, Paris, Sri Lanka, Indian, Colombia, Costa Rica, Panama, Kenya, Mozambique, Tanzania, Seychelles
PANAMA CITY, March 15 (Reuters) - Latin America has a "very resilient and well-managed" financial system, Inter-American Development Bank President Ilan Goldfajn said on Wednesday, following the collapse of Silicon Valley Bank, which has roiled markets. "We hope that we are prepared for what is coming in the region," Goldfajn added, speaking at an IDB meeting in Panama City. Stocks and currencies in the region tumbled on Wednesday as traders showed worries over the stability of Swiss lender Credit Suisse (CSGN.S) following the crash of Silicon Valley Bank, raising international fears of financial contagion. "We're going to learn a lot in coming weeks and months about how to get through this period," Goldfajn said. He added that IDB leaders would meet to discuss the development bank's macroeconomic outlook and the impact of inflation, as well as risks to the region's financial systems.
She said Brazil has regained the trust of the European Parliament with regards to resistance to the EU trade deal with South America's Mercosur bloc. Speaking at the World Economic Forum (WEF), Silva said Brazil's new government that took office on Jan. 1, was rebuilding Brazil's environmental agencies and policies that were "completely dismantled" by the previous administration. Silva said President Luiz Inacio Lula da Silva had offered to hold the COP30 climate summit in the Amazon region in 2025 to show its commitment towards curbing in climate change. Silva and Finance Minister Fernando Haddad represented Brazil at the WEF and discussed the country's economic, social and environmental roadmap in a panel. Reporting by Alessandra Galloni in Davos, Anthony Boadle and Eduardo Simoes in Brazil; Editing by Andrew Heavens and Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.
SÃO PAULO—The Inter-American Development Bank elected Brazil’s Ilan Goldfajn on Sunday as president of Latin America’s largest development bank, the first Brazilian to hold the role in the institution’s 63-year history. The election of Mr. Goldfajn, a widely respected former central banker, comes at a time when the region depends ever more on the institution as it emerges from the Covid-19 pandemic that killed over 1.7 million people in Latin America and the Caribbean and plunged millions more into poverty.
Brazil's Goldfajn elected to replace ousted IDB president
  + stars: | 2022-11-20 | by ( ) www.reuters.com   time to read: +3 min
WASHINGTON, Nov 20 (Reuters) - The Inter-American Development Bank (IDB) said on Sunday its board of governors has elected Brazil's Ilan Goldfajn as president of the financial institution, after Mauricio Claver-Carone, the first American to lead it, was ousted over ethics violations. Headquartered in Washington, the IDB is a key investor in Latin America and the Caribbean, responsible for $23.4 billion in financial commitments in 2021 and hundreds of infrastructure, health and tourism projects. In a statement, U.S. Treasury Secretary Janet Yellen congratulated Goldfajn and said the United States stands by the IDB as the region's premier development finance institution. "We are counting on President Goldfajn to lead this organization to be an engine of change and progress for our neighbors across Latin America and the Caribbean," Yellen said. Brazil's outgoing President Jair Bolsonaro nominated Goldfajn, the former president of the country's central bank and currently the head of the International Monetary Fund's Western Hemisphere department.
WASHINGTON, Nov 20 (Reuters) - The governors of the Inter-American Development Bank (IDB) have elected Brazil's Ilan Goldfajn as president of the financial institution after Mauricio Claver-Carone, the first American to lead it, was ousted over ethics violations, two sources told Reuters. Headquartered in Washington, the IDB is a key investor in Latin America and the Caribbean, responsible for $23.4 billion in financial commitments in 2021 and hundreds of infrastructure, health and tourism projects. The scandalous ouster of Claver-Carone had made it more likely that the next candidate would hail from Latin America, following prior precedent. Brazil's outgoing President Jair Bolsonaro nominated Goldfajn, the former president of the country's central bank and currently the head of the International Monetary Fund's Western Hemisphere department. IDB shareholders have underscored the importance of rebuilding trust in the institution after Claver-Carone's rocky, nearly two-year tenure.
[1/2] FILE PHOTO:Brazilian President-elect Luiz Inacio Lula da Silva cries while speaking during a meeting with members of the government transition team in Brasilia, Brazil November 10, 2022. REUTERS/Ueslei Marcelino REUTERSBRASILIA, Nov 15 (Reuters) - A dust-up among aides to Brazil's president-elect over the country's choice to lead the Inter-American Development Bank (IDB) is fueling concern that hardcore leftists on his team are eclipsing the influence of more market-friendly moderates. As his transition team begins its work ahead of the Jan. 1 inauguration, investors are wondering which group will be more influential in steering the two-term former president's economic policy. His appointment as coordinator of Lula's transition team was seen as good news for those hoping for market-friendly policies. SEEKING TO PLEASEInvestor concern about Lula's economic plans has been growing since last week.
MEXICO CITY/WASHINGTON, Nov 9 (Reuters) - Mexico has nominated Mexican central bank board member Gerardo Esquivel for the presidency of the Inter-American Development Bank (IDB), four people familiar with the matter said on Wednesday. Headquartered in Washington, the IDB is a key investor in Latin America and the Caribbean. Esquivel, 56, is regarded as perhaps the most doveish member of the board of the Bank of Mexico (Banxico), and his term there is currently scheduled to conclude in December. Former IDB President Mauricio Claver-Carone, the only American president in the bank's history, was fired in September after an investigation showed he had an intimate relationship with a subordinate, Reuters exclusively reported. ET on Nov. 11, with the bank's governors to vote on the next president early on Nov. 20, an IDB official said.
BRASILIA, Oct 16 (Reuters) - Brazil plans to nominate former central bank governor Ilan Goldfajn to head the Inter-American Development Bank (IDB), a person familiar with the matter said on Sunday, as Latin America's largest economy seeks to secure its first presidency of the institution. The development bank will elect its next president on Nov. 20 after the ouster of Mauricio Claver-Carone in an ethics scandal. Currently head of the International Monetary Fund's Western Hemisphere department, Goldfajn led Brazil’s central bank under former President Michel Temer, before handing the reins to current chief Roberto Campos Neto in February 2019. Under Goldfajn’s tenure, the central bank began developing its Pix instant payment platform, which was launched under Campos Neto. After leaving the central bank, Goldfajn chaired the board of Credit Suisse in Brazil before joining the IMF.
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