WASHINGTON (Reuters) - The Inter-American Development Bank on Friday called off next week’s meeting of its 48 member countries in China after Beijing refused to allow a representative of Venezuelan opposition leader Juan Guaido to attend, two sources with knowledge of the decision said.

FILE PHOTO: Ricardo Hausmann from Harvard University speaks on Day 1 of Securing Sport 2015 - the annual conference of the International Centre for Sports Security (ICSS). Photo Andrew Kelly for ICSS

The sources said the decision was made in Washington on Friday at a meeting of the executive board of the IADB, Latin America’s largest development lender, after China refused to change its position.

The sources said the board would vote within 30 days to reschedule the annual meeting for another date and location.

On Thursday, the United States threatened to derail the March 26-31 meeting unless Beijing granted a visa to Guaido’s representative, Harvard economist Ricardo Hausmann.

The meeting, slated to bring together finance and development ministers from the lender’s members, was meant to mark the bank’s 60th anniversary.

Guaido invoked the constitution to assume Venezuela’s interim presidency in January, saying the re-election of President Nicolas Maduro was not legitimate. Most Western countries have recognized Guaido as head of state, but Russia and China, among others, back Maduro.

One source, speaking on condition of anonymity, told Reuters on Thursday that China had proposed that no representative from either Maduro’s or Guaido’s camps attend the meeting to “depoliticize” the gathering.

The White House was not immediately available to comment, and China’s embassy in Washington did not respond to an emailed question on the IADB’s decision.

In a statement posted later on its website, the IADB confirmed that the meeting would not take place on March 28-30 in the city of Chengdu as planned, but it did not give a reason.

China’s foreign ministry said in its own statement it regretted the decision but bore no responsibility.

Spokesman Geng Shuang said China “had difficulty allowing” Guaido’s representative to attend because Guaido himself lacked legal standing.

“Changing Venezuela’s representative at the IADB won’t help solve Venezuela’s problems and (the proposal) damaged the atmosphere of the IADB annual meeting and disturbed preparations for the meeting,” he said.

The Washington-based IADB was the first multilateral lender to replace a Maduro-selected representative with one backed by Guaido. The move would eventually open lines of credit to Venezuela should Maduro step down.

The International Monetary Fund and World Bank have so far not made a decision on whether to recognize Guaido officially as head of state.

Had the annual meeting taken place next week, it would have been the first time the IADB held it in China. The Asian country has become a major player in Latin America and has poured more than $50 billion into Venezuela over the past decade in oil-for-loan agreements.

Trump administration officials have called on the IADB since last year to hold the meeting in the Americas, where all of its borrowers are located.

With relations between Washington and Beijing marred by an acrimonious trade dispute, U.S. officials have expressed concern in recent months at China’s growing influence in Latin America - a region Washington has long regarded as its backyard.</s>US threatens to pull out of IADB meeting in China if Guaidó's representative is not allowed to attend

The United States on Thursday threatened to pull out of the annual meeting of the Inter-American Development Bank in China next week if Beijing refuses to allow a representative of Venezuelan opposition leader Juan Guaido to attend.

The Washington-based IADB, the biggest lender to Latin America, voted last week to replace Venezuelan President Nicolas Maduro’s board representative with Harvard economist Ricardo Hausmann, who is backed by Guaido.

China, one of the Venezuelan government’s few remaining international allies, had proposed not inviting representatives from either the Maduro or Guaido camps to “de-politicize” the meeting.

Discussions to try to resolve the issue are ongoing among IADB member countries, and a final decision has not yet been taken. But a senior official in President Donald Trump’s administration - which has backed Guaido as Venezuela’s legitimate ruler - said the United States and its regional allies would “pull quorum” from the meeting in Chengdu if Hausmann was excluded.

The move likely would derail the meetings, which bring together finance and development ministers from the lender’s 48 member countries.

“China’s unwillingness to recognize and provide a visa to Hausmann is a breach of long-established Inter-American Development Bank protocols and procedures,” the U.S. official said.

“If China refuses to recognize and provide Hausmann a visa, the United States and its regional partners will pull quorum on the annual meeting,” the official added.

It is the first time the IADB is holding its annual meeting in China, which has become a major player in Latin America and has poured more than US$ 50 billion into Venezuela over the past decade in oil-for-loan agreements.

With relations between Washington and Beijing marred by an acrimonious trade dispute, U.S. officials have expressed concern in recent months at China’s growing influence in Latin America - a region Washington has long regarded as its backyard.

The U.S. Treasury’s top economic diplomat, David Malpass, last year urged the IADB to reconsider its decision to mark its 60th anniversary in China, saying the gathering should be held in the Americas.</s>WASHINGTON, March 22 (Reuters) - The Inter-American Development Bank on Friday canceled a meeting of its member countries due to be held in China next week after Beijing refused to allow a representative of Venezuelan opposition leader Juan Guaido to attend, two sources with knowledge of the decision said.

The sources said the decision was made by the board of the IADB, the region's largest development lender, after China refused to change its position.

The sources said the board of member countries would vote within 30 days to reschedule the annual meeting for another date and location.

On Thursday, the United States threatened to derail the meeting unless Beijing granted a visa to Guaido's representative, Harvard economist Ricardo Hausmann. The meeting, which is an annual gathering of the IADB's 48-member countries, was meant to mark the bank's 60th anniversary.

Guaido invoked the constitution to assume Venezuela's interim presidency in January, saying the re-election of President Nicolas Maduro was not legitimate. Most Western countries have recognized Guaido as head of state, but Russia and China, among others, back Maduro.

The Washington-based IADB voted last week to replace Maduro's board representative with Hausmann.

It would have been the first time the IADB held its annual meeting in China. The Asian country has become a major player in Latin America and has poured more than $50 billion into Venezuela over the past decade in oil-for-loan agreements.

With relations between Washington and Beijing marred by an acrimonious trade dispute, U.S. officials have expressed concern in recent months at China's growing influence in Latin America - a region Washington has long regarded as its backyard.</s>WASHINGTON (Reuters) - The Inter-American Development Bank on Friday called off next week's meeting of its 48 member countries in China after Beijing refused to allow a representative of Venezuelan opposition leader Juan Guaido to attend, two sources with knowledge of the decision said.

The sources said the decision was made in Washington on Friday at a meeting of the executive board of the IADB, Latin America's largest development lender, after China refused to change its position.

The sources said the board would vote within 30 days to reschedule the annual meeting for another date and location.

On Thursday, the United States threatened to derail the March 26-31 meeting unless Beijing granted a visa to Guaido's representative, Harvard economist Ricardo Hausmann. The meeting, slated to bring together finance and development ministers from the lender's members, was meant to mark the bank's 60th anniversary.

Guaido invoked the constitution to assume Venezuela's interim presidency in January, saying the re-election of President Nicolas Maduro was not legitimate. Most Western countries have recognized Guaido as head of state, but Russia and China, among others, back Maduro.

One source, speaking on condition of anonymity, told Reuters on Thursday that China had proposed that no representative from either Maduro's or Guaido's camps attend the meeting to "depoliticize" the gathering.

The White House was not immediately available to comment, and China's embassy in Washington did not respond to an emailed question on the IADB's decision.

The Washington-based IADB was the first multilateral lender to replace a Maduro-selected representative with one backed by Guaido. The move would eventually open lines of credit to Venezuela should Maduro step down.

The International Monetary Fund and World Bank have so far not made a decision on whether to recognize Guaido officially as head of state.

Had the annual meeting taken place next week, it would have been the first time the IADB held it in China. The Asian country has become a major player in Latin America and has poured more than $50 billion into Venezuela over the past decade in oil-for-loan agreements.

Trump administration officials have called on the IADB since last year to hold the meeting in the Americas, where all of its borrowers are located.

With relations between Washington and Beijing marred by an acrimonious trade dispute, U.S. officials have expressed concern in recent months at China's growing influence in Latin America - a region Washington has long regarded as its backyard.</s>WASHINGTON, March 22 (Reuters) - The Inter-American Development Bank on Friday canceled its annual meeting in China for next week after Beijing refused to allow a representative of Venezuelan opposition leader Juan Guaido to attend, two sources with knowledge of the decision said.

The sources said the decision to call off the meeting was made by the board of the IADB, the region's biggest lender, after China refused to change its position. The sources said the board would vote within 30 days to reschedule the annual meeting for another date and location.</s>WASHINGTON, March 21 (Reuters) - The United States on Thursday threatened to pull out from the annual meeting of the Inter-American Development Bank in China next week if Beijing refuses to allow a representative of Venezuelan opposition leader Juan Guaido to attend.

The IADB, which is Latin America's largest development lender, voted last week to replace Venezuelan President Nicolas Maduro's board representative with Harvard economist Ricardo Hausmann, who is backed by Guaido.

Several sources familiar with the situation told Reuters that China - one of the Venezuelan government's few remaining international allies - had proposed not inviting representatives from either the Maduro or Guaido camps to "de-politicize" the meeting.</s>SHANGHAI (Reuters) - China’s foreign ministry said on Saturday it regretted a decision by the Inter-American Development Bank (IADB) to cancel a meeting scheduled for next week in the city of Chengdu, adding that it bore no responsibility.

Sources told Reuters on Friday the IADB came to the decision after Beijing refused to allow a representative of Venezuelan opposition leader Juan Guaido to attend the meeting.</s>The president of the Inter-American Development Bank, Luis Alberto Moreno, speaks to investors in Sao Paulo in May 2018 (AFP Photo/NELSON ALMEIDA)

Washington (AFP) - The Inter-American Development Bank said Friday its annual meeting would exit China after the United States led objections to Beijing's refusal to grant a visa to the Venezuelan representative backed by Washington.

The bank, which provides development funding for Latin America and in which Washington holds 30 percent of voting power, said it would no longer gather in the southwestern city of Chengdu from March 28 to 31 in what would have been its first annual meeting in China.

The Washington-based institution said its board would decide within 30 days where to hold the meeting instead.

The decision marks a two-front victory for the United States which is trying to oust Venezuela’s leftist President Nicolas Maduro and to reduce Chinese influence in Latin America.

A State Department official said that the United States objected to China holding the meeting so long as it did not issue a visa to Ricardo Hausmann, who is considered the Venezuelan representative to the bank by Juan Guaido, the self-declared interim president recognized by Washington and major Latin American and European states.

US allies backed the US position, with more than 80 percent of IDB shareholders voting Friday to move the meeting out of China, the official said.

"Allowing a country to prevent the seating of a legitimate delegation of a multilateral organization would have set a precedent contrary to a century of established diplomatic norms," the official said on condition of anonymity.

Vice President Mike Pence also raised the issue in an opinion piece in The Miami herald, accusing China of "propping up a corrupt dictator."

It would mark "the first time in the bank's history that a host nation has refused to seat a member," he wrote.

China is the main creditor of Venezuela, granting more than $60 billion over the past decade to Maduro's cash-strapped government, which pays back in oil.

The Inter-American Development Bank's president, Colombian Luis Alberto Moreno, has voiced willingness to work with Guaido.

Hausmann was the IDB's chief economist from 1994 to 2000 and served as minister of planning under Venezuelan president Carlos Andres Perez, implementing a package of economic reforms.

Maduro's predecessor Hugo Chavez led a coup against Perez in 1992, citing the reforms. Chavez was later elected president and has branded himself as a champion of the poor.

Venezuela, which helped found the IDB in 1959, in May was declared in default of the bank which said it would not grant any further loans.</s>WASHINGTON (Reuters) - The United States on Thursday threatened to pull out from the annual meeting of the Inter-American Development Bank in China next week if Beijing refuses to allow a representative of Venezuelan opposition leader Juan Guaido to attend.

The IADB, which is Latin America's largest development lender, voted last week to replace Venezuelan President Nicolas Maduro's board representative with Harvard economist Ricardo Hausmann, who is backed by Guaido.

Several sources familiar with the situation told Reuters that China - one of the Venezuelan government's few remaining international allies - had proposed not inviting representatives from either the Maduro or Guaido camps to "de-politicize" the meeting.

This story has not been edited by Firstpost staff and is generated by auto-feed.

Firstpost is now on WhatsApp. For the latest analysis, commentary and news updates, sign up for our WhatsApp services. Just go to Firstpost.com/Whatsapp and hit the Subscribe button.</s>BEIJING (Reuters) - China warned on Friday against attempts to bring “misfortune” to the annual meeting of the Inter-American Development Bank in China next week, after the United States threatened to pull out if Beijing refused to let a representative of Venezuelan opposition leader Juan Guaido attend.

The Washington-based IADB, the biggest lender to Latin America, voted last week to replace Venezuelan President Nicolas Maduro’s board representative with Harvard economist Ricardo Hausmann, who is backed by Guaido.

Several sources familiar with the situation told Reuters that China - one of the Venezuelan government’s few remaining international allies - had proposed not inviting representatives from either the Maduro or Guaido camps to “de-politicise” the meeting.

A senior official in U.S. President Donald Trump’s administration - which has backed Guaido as Venezuela’s legitimate ruler - said the United States and its regional allies would “pull quorum” from the meeting in Chengdu if Hausmann was excluded.

The move likely would derail the meetings, which bring together finance and development ministers from the lender’s 48 member countries.

Chinese Foreign Ministry spokesman Geng Shuang said China attaches great importance to hosting the bank meeting and hopes the event can be successful.

The meeting should focus on financial cooperation and “avoid introducing sensitive political topics”, he told a daily news briefing.

The issue of the participation of the Venezuela delegation should be “appropriately resolved on the basis of flexibility and pragmatism”, he said.

“If relevant countries deliberately damage the preparatory process for the annual meeting and cause misfortune for the meeting then they should accept the consequences of this,” Geng said, without elaborating.

Geng reiterated that China opposes foreign interference in Venezuela’s internal affairs and supports the government and opposition to seek a political resolution via talks.

It is the first time the IADB is holding its annual meeting in China, which has become a major player in Latin America and has poured more than $50 billion into Venezuela over the past decade in oil-for-loan agreements.

With relations between Washington and Beijing marred by an acrimonious trade dispute, U.S. officials have expressed concern in recent months at China’s growing influence in Latin America - a region Washington has long regarded as its backyard.

Guaido, who heads Venezuela’s national assembly, invoked the constitution to assume the interim presidency in January, saying Maduro’s election was not legitimate. Most Western countries, including the United States, have backed Guaido as Venezuela’s head of state.

Maduro, who still has the support of Venezuela’s military, has clung to power with the support of Russia, China and Cuba.
The Inter-American Development Bank, Latin America’s largest development lender, cancels its scheduled annual 48-country meeting next week following China's refusal to allow a representative of Venezuelan opposition leader Juan Guaidó to attend what would have been the first IADB meeting held in China.