In the wake of the sudden removal of St. Lucian-born Dr. Hyginus ‘Gene’ Leon from the presidency of the Caribbean Development Bank, earlier this year, the Board of Governors of the region’s most important financial support institutions have sat down to ponder issues relating to the way forward for the Barbados-based institution that has become a critical cog in the wheel that has, over time, kept a number of key regional development projects turning.
Official details of the sudden meltdown of Dr. Leon’s leadership of the region’s key financial support props for critical development projects in the region have, up to this time, been largely withheld from the general public, even though Dr. Leon’s resignation back in April “with immediate effect,” served to communicate the magnitude of the crisis that had spawned his departure from the financial institution. A letter to the Bank by the former CDB President in the wake of his resignation had stated that it was “evident that the Bank has lost all trust and confidence in our client by the failure of the board of governors to prevent the continued violations of its Charter, policies, rules and regulations with regard to its elected President.”
