IADB elects new President

Colombian diplomat and former minister of economic development Luis Alberto Moreno was elected president of the Inter-American Development Bank on Wednesday 27 July during a special meeting of the Bank's Board of Governors at IDB headquarters in Washington, D.C.

Amb. Moreno will take office on October 1, 2005 for a five-year term. He will succeed Enrique V. Iglesias, who resigned his post on May 31. The president oversees operations of the IDB Group, which is made up of the Bank and its affili