Former secretary of Paulo Guedes leaves position at the IDB – 07/03/2023 – Market

Martha Seillier, former special secretary of the Investment Partnerships Program (PPI) of the Jair Bolsonaro government, announced this Monday (3) that her period as executive director of the IDB (Inter-American Development Bank) has come to an end.

Seillier was appointed to the position in May last year by the then Minister of Economy, Paulo Guedes. She was Special Secretary for nearly three years, from July 2019 until her IDB appointment.

In a publication on LinkedIn, the economist said that the contract came to an end and thanked her for the experience.

“In the last year, the institution has proven its worth and the necessary changes have been made to regain confidence and put the bank back on track with a focus on projects that can bring better opportunities to Latin American and Caribbean countries,” he wrote.

Seillier also said in the text that he is proud to see a Brazilian as president of the bank. She is referring to Ilan Goldfajn, a former president of the Central Bank who was elected to the IDB post last November.

Seillier’s appointment would be completed in 2021, but was suspended on the grounds that his presence was necessary in the execution of several projects in his portfolio.

In 2020, the secretary had her name involved in a controversy for being a passenger on a FAB flight that took her, along with other government officials, to an official event in India.

At the time, President Jair Bolsonaro reacted angrily to the fact, saying that it was not illegal, but it was immoral. One of the passengers, José Vicente Santini, was removed from his position in the Civil House, but Seillier was not punished.

Graduated in Law and Master in Economics from UnB, Martha Seillier was also a federal public servant and the first woman to chair Infraero.

IDB (Inter-American Development Bank)

• Founded in 1959

• Its resources come from its 48 member countries and funding from financial markets, among other sources.

• Voting power is proportional to the capital subscribed by the country

• The USA is the country with the highest voting power in the institution, 30%,

• Brazil and Argentina have 11.4% each

• Each member country appoints a governor, usually the Minister of Finance or Economy

• US$ 23.4 billion was the value of the bank’s financing portfolio for projects in 2021

member countries

Germany, Argentina, Austria, Bahamas, Barbados, Belgium, Belize, Bolivia, Brazil, Canada, Chile, China, Colombia, Costa Rica, Croatia, Denmark, El Salvador, Ecuador, Slovenia, Spain, United States, Finland, France, Guatemala , Guyana, Haiti, Honduras, Israel, Italy, Jamaica, Japan, Mexico, Nicaragua, Norway, Netherlands, Panama, Paraguay, Peru, Portugal, United Kingdom, Republic of Korea, Dominican Republic, Sweden, Switzerland, Suriname, Trinidad and Tobago, Uruguay and Venezuela.

IDB President

• Elected by the Board of Governors

• Responsible for day-to-day running

• In sessions of the executive board, it does not vote, except in the case of a tie.

Source: IDB (Inter-American Development Bank)