Update: CDB President in “ongoing administrative process” but bank silent on if officials sent on leave

Last Updated on Wednesday, 17 January 2024, 23:12 by Denis Chabrol

The  Caribbean Development Bank (CDB) late  Wednesday night confirmed that “administrative” action has been taken, but stayed clear of saying whether that several top officials have been sent on leave.

“Caribbean Development Bank acknowledges an ongoing administrative process involving the President. The Bank will not be making any further comments on this internal matter at this time,” the Barbados-headquartered financial institution said in a one-line statement in response to questions earlier in the day.

CDB President Dr Hyginus ‘Gene’ Leon was among those who had been scheduled to appear at the bank’s annual press conference that has since been postponed by one month.

Others who were scheduled to appear at the news conference, whose theme is “Facilitating Resilient Prosperity”, were Vice-President Finance & Corporate Services, Gregory N. Hill; Director, Projects Department, Mrs. Therese Turner Jones, and Director, Economics Department Mr Ian Durant.

The CDB announced earlier Wednesday that the press conference that was originally slated for January 23, 2024 would now be held on February 20, 2024 but gave no reason for its decision. Subsequent updates will be shared directly and published via Facebook, Instagram, and LinkedIn.”

A  CDB spokeswoman only maintained that the press conference was “rescheduled” but declined to say whether senior bank officials were sent on leave or asked to go on leave.