Subscribe Login
Jamaica Observer
ePaper
The Edge 105 FM Radio Fyah 105 FM
Jamaica Observer
ePaper
The Edge 105 FM Radio Fyah 105 FM
    • Home
    • News
      • Latest News
      • Cartoon
      • International News
      • Central
      • North & East
      • Western
      • Environment
      • Health
      • #
    • Business
      • Social Love
    • Sports
      • Football
      • Basketball
      • Cricket
      • Horse Racing
      • World Champs
      • Commonwealth Games
      • FIFA World Cup 2022
      • Olympics
      • #
    • Entertainment
      • Music
      • Movies
      • Art & Culture
      • Bookends
      • #
    • Lifestyle
      • Page2
      • Food
      • Tuesday Style
      • Food Awards
      • JOL Takes Style Out
      • Design Week JA
      • Black Friday
      • #
    • All Woman
      • Home
      • Relationships
      • Features
      • Fashion
      • Fitness
      • Rights
      • Parenting
      • Advice
      • #
    • Obituaries
    • Classifieds
      • Employment
      • Property
      • Motor Vehicles
      • Place an Ad
      • Obituaries
    • More
      • Games
      • Elections
      • Jobs & Careers
      • Study Centre
      • Jnr Study Centre
      • Letters
      • Columns
      • Advertorial
      • Editorial
      • Supplements
      • Webinars
    • Home
    • News
      • Latest News
      • Cartoon
      • International News
      • Central
      • North & East
      • Western
      • Environment
      • Health
      • #
    • Business
      • Social Love
    • Sports
      • Football
      • Basketball
      • Cricket
      • Horse Racing
      • World Champs
      • Commonwealth Games
      • FIFA World Cup 2022
      • Olympics
      • #
    • Entertainment
      • Music
      • Movies
      • Art & Culture
      • Bookends
      • #
    • Lifestyle
      • Page2
      • Food
      • Tuesday Style
      • Food Awards
      • JOL Takes Style Out
      • Design Week JA
      • Black Friday
      • #
    • All Woman
      • Home
      • Relationships
      • Features
      • Fashion
      • Fitness
      • Rights
      • Parenting
      • Advice
      • #
    • Obituaries
    • Classifieds
      • Employment
      • Property
      • Motor Vehicles
      • Place an Ad
      • Obituaries
    • More
      • Games
      • Elections
      • Jobs & Careers
      • Study Centre
      • Jnr Study Centre
      • Letters
      • Columns
      • Advertorial
      • Editorial
      • Supplements
      • Webinars
  • Home
  • News
    • International News
  • Latest
  • Business
  • Cartoon
  • Games
  • Food Awards
  • Health
  • Entertainment
    • Bookends
  • Regional
  • Sports
    • Sports
    • World Cup
    • World Champs
    • Olympics
  • All Woman
  • Career & Education
  • Environment
  • Webinars
  • More
    • Football
    • Elections
    • Letters
    • Advertorial
    • Columns
    • Editorial
    • Supplements
  • Epaper
  • Classifieds
  • Design Week
Latin America development bank axes chief after ethics probe
Caribbean, Mauricio Claver-Carone (AP Photo/Juan Karita, File)
Latest News
September 26, 2022

Latin America development bank axes chief after ethics probe

MIAMI (AP) — Governors of the Inter-American Development Bank have voted to fire its president, Mauricio Claver-Carone, after an ethics probe found he likely carried on an intimate relationship with a subordinate whose salary he raised, a person familiar with the vote told The Associated Press.

The governors from the IADB’s 48 members had until Tuesday to vote electronically on whether to sack Claver-Carone following a unanimous recommendation last week by the bank’s board to fire one of the first American to lead the bank in its 63-year history.

But enough ballots had been cast by Monday afternoon to meet the necessary quorum, the person said.

An investigation conducted at the board’s request determined that Claver-Carone violated ethics rules by giving a 40 per cent salary increase to his chief of staff, with whom he had a romantic relationship from at least 2019, when both worked at the White House, according to a copy of the report obtained by the AP.

Claver-Carone has denied ever having a relationship with his top aide and said that the investigation, conducted by New York law firm Davis Polk, was seriously flawed.

But the bank’s executive board was persuaded by evidence including a “contract” the two purportedly drew up on the back of a place mat in the summer of 2019 while they dined at a steakhouse in Medellin, Colombia. Both were there attending the annual meeting of the Organization of American States.

In it, they allegedly outline a timeline for divorcing their spouses and getting married. There is also a “breach clause” stating that any failure to fulfill the terms would bring “sadness and heartbreak” that could only be mitigated by “candlewax and a naughty box” from an oceanfront hotel in Claver-Carone’s native Miami.

While investigators found no evidence that Claver-Carone broke the bank’s travel policies to cover up the romance, it faulted him for not fully cooperating with their probe. It also said he likely violated the bank’s conflict of interest policy, which bans managers from employment decisions on behalf of individuals with whom they have an intimate relationship when he unilaterally awarded his aide a 40 per cent salary increase.

The Inter-American Development Bank is the biggest multilateral lender to Latin America, disbursing as much as $23 billion every year in efforts to alleviate poverty in the region. The US is the largest shareholder, with 30 per cent of voting rotes.

Claver-Carone was elected president in the final months of the Trump administration despite grumblings from Democrats and some others in the region.

{"website":"website"}{"jamaica-observer":"Jamaica Observer"}
img img
0 Comments · Make a comment

ALSO ON JAMAICA OBSERVER

Johan-Remaldo Smythe ready to put Holland High on the map
Latest News, Sports
Johan-Remaldo Smythe ready to put Holland High on the map
January 11, 2026
Johan-Ramaldo Smythe showed that he is ready for all comers this season by smashing the Class One 100m record at the Purewater/RDanny Williams/JC Deve...
{"jamaica-observer":"Jamaica Observer"}
Trump admin sends more agents to Minneapolis despite furor over woman’s killing
International News, Latest News
Trump admin sends more agents to Minneapolis despite furor over woman’s killing
January 11, 2026
MINNEAPOLIS, United States (AFP)—US Homeland Security Secretary Kristi Noem said Sunday that hundreds more federal agents were heading to Minneapolis,...
{"jamaica-observer":"Jamaica Observer"}
St Catherine taxi operator charged with murder
Latest News, News
St Catherine taxi operator charged with murder
January 11, 2026
St CATHERINE, Jamaica – A St Catherine taxi operator has been charged with murder following the stabbing death of a man in Portmore, St Catherine on J...
{"jamaica-observer":"Jamaica Observer"}
American woman among two charged following St Mary firearm seizure
Latest News, News
American woman among two charged following St Mary firearm seizure
January 11, 2026
ST MARY, Jamaica–An American sterile surgical technician is among two charged with possession of a prohibited weapon and unauthorised possession of am...
{"jamaica-observer":"Jamaica Observer"}
Man United knocked out of FA Cup by Brighton, Martinelli hits hat-trick for Arsenal
International News, Latest News
Man United knocked out of FA Cup by Brighton, Martinelli hits hat-trick for Arsenal
January 11, 2026
MANCHESTER, United Kingdom (AFP)—Manchester United crashed out of the FA Cup with a meek 2-1 home defeat to Brighton on Sunday as Gabriel Martinelli's...
{"jamaica-observer":"Jamaica Observer"}
Barca edge Real Madrid in thrilling Spanish Super Cup final
International News, Latest News
Barca edge Real Madrid in thrilling Spanish Super Cup final
January 11, 2026
JEDDAH, Saudi Arabia (AFP)—Barcelona retained the Spanish Super Cup with a thrilling 3-2 Clasico win over Real Madrid in Saudi Arabia on Sunday. Raphi...
{"jamaica-observer":"Jamaica Observer"}
Over 3,400 candidates with varying disabilities sat CXC examinations in 2025
Latest News, News
Over 3,400 candidates with varying disabilities sat CXC examinations in 2025
January 11, 2026
KINGSTON, Jamaica—A total of 3,444 special needs students across the Caribbean, the majority of whom were visually-impaired, sat examinations administ...
{"jamaica-observer":"Jamaica Observer"}
Shanoya Douglas tastes rare defeat at hand of Trinidadian Alexxe Henry
Latest News, Sports
Shanoya Douglas tastes rare defeat at hand of Trinidadian Alexxe Henry
January 11, 2026
KINGSTON, Jamaica— Jamaica’s rising star Shanoya Douglas was beaten into second place in the Class One 100m at the PureWater/RDanny Williams/JC develo...
{"jamaica-observer":"Jamaica Observer"}
❮ ❯

Polls

HOUSE RULES

  1. We welcome reader comments on the top stories of the day. Some comments may be republished on the website or in the newspaper; email addresses will not be published.
  2. Please understand that comments are moderated and it is not always possible to publish all that have been submitted. We will, however, try to publish comments that are representative of all received.
  3. We ask that comments are civil and free of libellous or hateful material. Also please stick to the topic under discussion.
  4. Please do not write in block capitals since this makes your comment hard to read.
  5. Please don't use the comments to advertise. However, our advertising department can be more than accommodating if emailed: advertising@jamaicaobserver.com.
  6. If readers wish to report offensive comments, suggest a correction or share a story then please email: community@jamaicaobserver.com.
  7. Lastly, read our Terms and Conditions and Privacy Policy

Recent Posts

Archives

Facebook
Twitter
Instagram
Tweets

Polls

Recent Posts

Archives

Logo Jamaica Observer
Breaking news from the premier Jamaican newspaper, the Jamaica Observer. Follow Jamaican news online for free and stay informed on what's happening in the Caribbean
Featured Tags
  • Editorial
  • Columns
  • Health
  • Auto
  • Business
  • Letters
  • Page2
  • Football
Categories
  • Business
  • Politics
  • Entertainment
  • Page2
  • Business
  • Politics
  • Entertainment
  • Page2
Ads
img
Jamaica Observer, © All Rights Reserved
  • Home
  • Contact Us
  • RSS Feeds
  • Feedback
  • Privacy Policy
  • Editorial Code of Conduct