The Board of Executive Directors of the Inter-American Development Bank unanimously ratified the appointment of current Brazilian Director to the World Bank, Otaviano Canuto, as Vice President for Countries for a three-year term.
Canuto will have responsibility over the four Country Departments covering the regions in which the IDB divides its operations in Latin America and the Caribbean, 26 Country Offices, and the Operations Procurement Office.
Prior to joining the World Bank in January 2004 representing Brazil, Colombia, Dominican Republic, Ecuador, Haiti, Panama, Philippines, Suriname and Trinidad & Tobago, Canuto served as Director of International Affairs with the Ministry of Finance in his country.
Canuto has had a distinguished academic career as professor of economics at the University of Sao Paulo from 2002 to 2003, and at the State University of Campinas (UNICAMP) in Campinas, Sao Paulo, Brazil, from 1989 to 2001. He has also served as Executive Secretary of the National Association of Centers of Graduate Studies in Economics in Brazil 2000/2001.
A columnist for the Brazilian newspapers Valor Economico from 2000 to 2002 and O Estado de Sao Paulo from 1997 to 2002, Canuto is the author of numerous publications. Canuto holds a Master in Economics from Concordia University, Canada, and a Ph.D. in Economics from UNICAMP.
The IDB is the leading source of multilateral financing for Latin America and the Caribbean. The IDB group also comprises the Inter-American Investment Corporation and the Multilateral Investment Fund, which focus on small and medium-sized businesses and microenterprises.