:quality(75)/cloudfront-us-east-1.images.arcpublishing.com/bloomberglinea/4IXJYZZE3BDKPBQDKYBFYBKHJY.jpg "Javier Milei following the primary results on August 13.")
Buenos Aires — Guillermo Francos, the executive director for Argentina and Haiti at the Inter-American Development Bank (IDB), has announced he will resign from the regional lender to join Javier Milei’s campaign team.
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In a letter, Francos confirmed that he will leave his position in the next few days to join the team of Libertad Avanza, the political force that won the August 13 primaries.
Francos announced his decision on August 20 and assured that he will leave his position in the next few days in order “not to affect any sensitivities”.
At the same time, he expressed his conviction that, together with the team led by Milei, it will be possible to build “a liberal Argentina as conceived by Alberdi, a 19th-century Argentine political theorist and diplomat: modern, developed, fairer and more dignified”.
Who is Guillermo Francos?
Before landing at the IDB in December 2019 as Argentina’s representative, Francos was at the helm of Wilobank, a digital bank founded by Eduardo Eurnekian. He had also had a seat on the board of directors of Corporación América, Eurnekian’s holding company, and of which Milei was chief economist.
:quality(75)/cloudfront-us-east-1.images.arcpublishing.com/bloomberglinea/AT7YHUMGIFGRBDKY43M4D2QEQY.jpg "Source: Inter-American Development Bank.")
His extensive résumé also includes his time as director of VISA Argentina, his presidency of the Banco de la Provincia de Buenos Aires between 2007 and 2011 (under the governorship of Daniel Scioli), and his participation in the founding of the Federal Party and the Partido Acción por la República, the political force created by former economy minister Domingo Felipe Cavallo in 1996 to compete for the presidency in 1999.
In 1997, Francos was elected to congress for the City of Buenos Aires and headed the Action for the Republic party’s bloc until September 2000, when he left his position after almost three years.
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In his own words: Francos’ statement
I have accepted the offer to join Milei’s team.
Taking into account the offer made to me by Javier Milei to join his team in the event of being elected president, I have decided to accept it and, currently holding the position of Executive Director for Argentina and Haiti at the Inter-American Development Bank, and being at the same time the dean of its board of directors, I have taken the decision to leave this position in the next few days in order not to affect any sensitivities at such a crucial moment of our young democracy.
I am grateful for the opportunity I was given to defend the interests of our country, and of Latin America and the Caribbean, in the region’s most important development institution. I am convinced that I have honored that trust, just as I am convinced that I have accepted to work in the team led by Javier Milei to build a liberal Argentina as conceived by Alberdi: modern, developed, fairer and more dignified.
Guillermo Francos, Executive Director, Inter-American Development Bank
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