García to continue leading CAF's expansion after 20 years at the helm

- Tuesday, June 28, 2011

García to continue leading CAF's expansion after 20 years at the helm

Latin American development bank, CAF has unanimously re-elected Bolivian Enrique García as its executive director.

Under García's 20-year directorship the bank grew from a sub-regional organization of five Andean countries to 18 member states across Latin America and the Caribbean.

CAF has an equity base of US$5.75bn and US$18.5bn in assets.

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Between 1993 and 2010 the bank issued US$12.5bn worth of bonds on the back of its strong debt ratings. Earlier this month ratings agency S&P affirmed CAF's A+ long-term and A-1 short-term counterparty ratings.