Brazil vies with Argentina for IADB's top job

Brazil plans to push for its own candidate to lead the Inter-American Development Bank, vying with Argentina for the regional lender’s top job, as President Jair Bolsonaro seeks to capitalize on the political alliance with Donald Trump.

Marcos Troyjo, the Economy Ministry’s Special Secretary for Foreign Trade and International Affairs, is said to have the best shot at becoming Brazil’s candidate, according to four people familiar with the matter. Economy Minister Paulo Guedes has also considered Maria Silvia Bastos, who chairs Goldman Sachs Group Inc.’s advisory board in Brazil, for the IADB nomination, two of the people said. Meanwhile, Paraguay also intends to launch Finance Minister Benigno Lopez as its candidate.

IADB President Luis Alberto Moreno took on the job in 2005 and has been re-elected twice. The next head will start a five-year term in October after a selection process that is set to formally begin in the coming months.