Donald Terry to Leave MIF

Donald Terry, the head of the IDB’s Multilateral Investment Fund (MIF), is retiring July 1. He is 62 June 20, and therefore eligible for retirement. Terry is well known for his work on remittances and this week warned that the Mexican economy could be severely impacted if flows from abroad, currently flat, start to drop. A fall in remittances to Brazil is actually a good sign, according to Terry, as more Brazilians stay home or return from abroad because of better economic conditions and the appreciation of the BRL. Terry tells LatinFinance he is talking to the World Bank and other organizations about continuing his career, in Africa.