Why We Removed Mauricio Claver-Carone from Our Latin America’s 500 List

Earlier this month, Bloomberg Línea published the second edition of its Latin America’s 500, an annual list that recognizes the most influential people in business, economy and finance across the region.

One of those listed was Mauricio Claver-Carone, president of the Inter-American Development Bank (IDB).

As well as prominent figures in Latin America, the list also features executives, business leaders and entrepreneurs of Hispanic origin who lead important initiatives in companies and organizations in the United States that have left a significant footprint throughout the hemisphere.

Claver-Carone, whose family members are of Cuban and Spanish origin, assumed the IDB presidency in October 2020, nominated by former US president Donald Trump. Although the appointment initially raised controversy, due to him being the first IDB president of non-Latin American nationality, Claver-Carone led a new relationship for the bank with the region.

His directives were mainly concerned with the potential that Latin American countries have in terms of nearshoring as well as ending the development bank’s practice of offering political favors.

This week, the IDB’s Board of Governors decided to remove Claver-Carone from his post following an investigation into a relationship between the executive and an individual working within the bank.

Consequently, the editorial board of Bloomberg Línea took the decision to remove the executive from the Latin America 500 Most Influential list in accordance with one of the criteria outlined since our first edition of the list in 2021: the list is not a ranking, and is a “living entity” that can be modified according to the actions of the nominees, including their public performance.