IADB president announces his resignation

The president of the Inter-American Development Bank, Enrique V. Iglesias, on Tuesday 31 May informed the IDB Board of Executive Directors that he is resigning his post, effective September 30, 2005.

Iglesias made the announcement after sending a letter to the chairman of the IDB Board of Governors, Japan Finance Minister Sadakazu Tanigaki, in which he stated: "After working at the Bank for more than 17 years, I believe that the time has come to pass its leadership to new hands, thus enabling