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AmericasJuly 3 2005

Peru and Brazil field rivals for IDB presidency

Two main candidates are lining up to replace Enrique Iglesias as president of the Inter-American Development Bank (IDB), the biggest multilateral development bank in Latin America. Mr Iglesias, who has held the position since 1988, has decided to step down at the end of September.
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One candidate, backed by Brazil, a leading Latin American nation, and (with Argentina), the IDB’s second biggest shareholder, is João Sayad. The São Paulo banker and Yale graduate is a vice-president at the IDB.

Meanwhile, Peru is widely expected to field its minister of finance, Pedro Pablo Kuczynski. He is an Oxford University graduate and a former chairman of First Boston International.

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