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June 22, 2004 / 1:20 PM

Former Brazil minister to senior IDB post

WASHINGTON, June 22 (UPI) -- A former Brazilian economic planning minister is the new vice president of the Inter-American Development Bank's planning and administration division.

In his new post, Joao Sayad will coordinate the planning and financing of both the private and public sectors for the IDB's borrowing nations.

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Sayad was also formerly secretary of finance for the city of Sao Paolo and was professor of macroeconomics at the University of Sao Paolo.

He will take on the post at the IDB headquarters in Washington Sept. 1, following the retirement of his predecessor, Paulo Paiva.

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