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New Vice President for Planning and Administration appointed at IDB

The Inter-American Development Bank today announced the appointment of João Sayad as vice president for Planning and Administration at its headquarters in Washington, D.C.

Sayad is a citizen of Brazil with many years of experience in the fields of planning and finance in the public and private sectors. He was previously minister of planning in the federal government of Brazil, secretary of finance and economic development for the city of São Paulo, secretary of finance for the state of São Paulo, president and chairman of the board of directors of the Inter-American Express Bank in São Paulo and director of the Economic Research Institute Foundation at the University of São Paulo. He has also been professor of macroeconomics, money and banking at the same university, where he obtained a master’s degree in economics. He earned a Ph.D. in the same field from Yale University.

His appointment will be effective September 1, 2004, when Paulo Paiva, who holds the position, will retire.