The Brazilian government supports the re-election of Luis Alberto Moreno as president of the Inter-American Development Bank, Brazilian Minister of Planning Paulo Bernardo says.
Bernardo said Brazil had been previously critical of the bank’s management but deemed that IDB had improved its lending practices, Bloomberg reports. The Washington-based lender also helped ease the adverse effects of the global financial crisis in Latin America, Bernardo added.
Moreno’s five-year term as IDB president ends in October. He did not say whether he is seeking re-election.
U.S. Treasury spokeswoman Natalie Wyeth was mum when asked about the position of the U.S. on Moreno’s possible re-election. The U.S. has a 30 percent voting share at the bank, Bloomberg reports.