IDB bank will hold annual meeting in Ecuador in July

WASHINGTON (AP) — The executive directors of the Inter-American Development Bank are selecting Guayaquil, Ecuador, as the host of its annual meeting on July 16-17.

The IDB made the announcement in a press release after calling off its general assembly last month because host China refused to grant a visa to Ricardo Hausmann, the Venezuelan representative designated by opposition leader Juan Guaidó.

The IDB is the first and only international financial organization to recognize Guaidó as the legitimate president of the South American country, a stand taken by the U.S. and about 50 other nations that contend Nicolas Maduro's re-election last year was rigged.

China disagrees and remains as one of the main allies of Maduro.