The Board of Executive Directors of the Inter-American Development Bank today unanimously ratified the appointment of Carlos Hurtado, former Under-Secretary of Budget of the Secretariat of Finance of Mexico, as the IDB’s Vice President for Finance and Administration effective immediately for a three-year term.
Prior to his position in the Secretariat of Finance, Hurtado held key high-level positions in his country’s government, including Chief Advisor for Economic and Social Policy Affairs to the President and Permanent Representative of Mexico at the OECD.
As the new IDB Vice President for Finance and Administration, Hurtado (51) will have responsibility over several departments, including Budget, Administration and Corporate Procurement, Finance, Human Resources, Information Technology and Legal Counsel.
Hurtado graduated in Economics from the Instituto Tecnológico Autónomo de México (ITAM) and obtained a doctorate in Economics from the University of Chicago. He had a distinguished academic career and is the author of numerous publications.
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 supports small and medium-sized businesses and microenterprises.