Ambassador Luis Alberto Moreno, of Colombia, was elected president of the Inter-American Development Bank (IDB) in October 2005. He leads this key multilateral development bank at, in his words, "a potentially transforming moment" in the history of Latin America. Ambassador Moreno has cited three years of growth in the region, low inflation, and democratically-elected governments committed to putting their public finances in order. "Our governments increasingly recognize that the current levels of poverty and inequity in our region are morally intolerable and comprise an enormous burden on development and democratic governance," Moreno said upon assuming office. On the heels of the Summit of the Americas in Mar del Plata, Argentina, Moreno will explain how the IDB can support responsible policies that help governments in the region create economic opportunity for their people.