Ilan Goldfajn is to take over as president of the Inter-American Development Bank (IDB), seeing off four other candidates to secure the presidency.

A former governor of the Central Bank of Brazil, Goldfajn won the backing of a majority of the total vote share of the IDB’s 48 member countries and a majority of the 28 members in the Americas region.

Goldfajn will have to repair some damage to the IDB’s reputation, after the controversial tenure of the previous president, Mauricio Claver-Carone