News / Economic Divide

U.S. Control of World Institutions

Wednesday, 23 September 2020 9:24 AM [ Last Update: Wednesday, 23 September 2020 9:24 AM ]

IDB WEB SUMMARY The Inter-American Development Bank, or IDB are about to see the election of a new President, with the incumbent leaving the role after 15 years. The IDB director has for the last 60 years been held by a South American, yet, for the first time in its history, the United States of America have proposed an American Latino to hold the role, however, the nomination of Mauricio Claver-Carone does not come without its controversy, as the man is a known Trump supporter, and has been a catalyst in the maximum pressure policies on Venezuela, Cuba and Nicaragua. Should the nomination go through, it will see the US take control of yet another global financial institution, with World Bank, IMF and others already led by the US. This raises the question for just how much longer can the world tolerate US control, hence seeing the likes of the EU and China seeking to create their own versions of international finance and payments systems that may just topple the US hegemony on such institutions, and with it, the potential collapse of the Dollar.

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