January 12, 2007
No. 6
In his capacity as Governor for Canada to the Inter-American Development Bank (IDB),
the Honourable Peter MacKay, Minister of Foreign Affairs and Minister of the Atlantic
Canada Opportunities Agency, today announced the nomination of Vinita Watson as
Canada’s Executive Director to the Bank. Ms. Watson replaces Mr. Charles Bassett,
who has dedicated himself to the promotion of Canada’s interests and objectives at the
IDB for the past three years.
“I am pleased that Ms. Watson will be serving on the IDB Board of Executive Directors,”
said Minister MacKay. “Canada attaches particular importance to our relations with the
Americas. The IDB is an important partner in our efforts to advance equitable
development and good governance in the region. Ms. Watson has strong credentials for
this position and is very well qualified to advance the important work of the Bank.”
A long-standing initiative of the Latin American countries, the Inter-American
Development Bank was established in 1959 in Washington, D.C., as a development
institution with lending and technical cooperation programs for economic and social
development. The oldest and largest regional development bank, the IDB is the main
source of multilateral financing for economic, social and institutional development
projects as well as for trade and regional integration programs in Latin America and the
Caribbean.
The IDB is owned by its 47 member countries. Governance of the Bank is vested in the
Board of Governors, which tops the organizational structure of the Bank, and in the
Board of Executive Directors. Ms. Watson is the first woman to be appointed by
Canada as Executive Director to the IDB.
For more information on the IDB, consult its website at http:/:www.iadb.org.
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A biographical note on the appointee is attached.
For further information, media representatives may contact:
Foreign Affairs Media Relations Office
Foreign Affairs and International Trade Canada
613-995-1874
http://www.international.gc.ca
BIOGRAPHICAL NOTE
Ms. Vinita Watson has served in senior positions in the Privy Council Office, Industry
Canada and the Department of Finance, where she often represented the Canadian
Government in high-level meetings. As Assistant Deputy Minister in the International
Trade and Finance Branch of the Department of Finance, she was actively involved in
many files pertaining to international financial institutions, including chairing the G10
Working Group examining the financial situation of the International Monetary Fund.
