IDB recognises Venezuela representative designated by Guaidó

Inter-American Development Bank (IDB)governors approved on Friday a resolution recognising a new Venezuela representative designated by opposition leader Juan Guaidó.

The IDB said in a press release that the designation of Ricardo Hausmann as Venezuela’s representative to the lender is effective immediately.

The electronic voting on the resolution will be open until Friday evening, but by mid-morning, there were already a sufficient number of votes to enable Hausmann, the IDB’s first chief economist, to replace treasury vice-minister Oswaldo Perez, an official loyal to President Nicolás Maduro.

The IDB did not say what would happen to Armando León, another government loyalist who currently serves as one of the bank’s 14 executive directors.

A message requesting comment from León’s office was not immediately returned.

The IDB was the first international financial organisation to recognise Guaidó as the legitimate president of the South American country, a stand taken by the United States and about 50 other countries that contend that Maduro’s re-election last year was rigged.

Bank governors are usually based in their home countries and meet once a year. Their next general assembly will be held from March 28-31 in Chengdu, China.

Guaidó has not designated representatives to the International Monetary Fund or the World Bank, and neither body has recognised him as Venezuela’s leader.

–AP