FINANCE MINISTER NOMINATED FOR IDB PRESIDENCY

UNCLAS LIMA 003006

SIPDIS

DEPT FOR D, E, EB, WHA/AND
USTR FOR B. HARMAN

E.O. 12958: N/A
TAGS: ECON EFIN PGOV PREL PE
SUBJECT: FINANCE MINISTER NOMINATED FOR IDB PRESIDENCY

REF: Lima 2692 and previous


1. On July 8, the Foreign Ministry convoked the diplomatic
corps to announce the GOP's nomination of Finance Minister
Pedro Pablo Kuczynski (PPK) as its candidate to replace
Enrique Iglesias as President of the Inter-American
Development Bank (IDB). At the end of the day, Post
received a diplomatic note declaring PPK's candidacy. We
have forwarded both the diplomatic note, as well as a copy
of PPK's curriculum vitae, to WHA/AND.


2. Begin Text of unofficial translation of Diplomatic Note:

The Ministry of Foreign Relations presents its
compliments to the Embassy of the United States of America
and has the honor of informing that the Government of Peru
has presented the candidacy of the Minister of Economy and
Finance, Doctor Pedro Pablo Kuczynski, to the Presidency of
the Inter-American Development Bank (IDB),for the elections
that will take place in Washington, D.C., during the next
extraordinary meeting of IDB Governors, July 27, 2005.

Peru, as an Inter-American Development Bank partner
since its creation in 1959, and the Peruvian candidate share
fully the principal goals outlined by the Bank for
sustainable development and poverty reduction in the region
under its four strategies: competitiveness, modernization of
the state, development with social equity and regional
integration.

We would like to mention that Peru has never previously
held leadership positions in Inter-America organizations,
and therefore believes that this should be taken into
account in these elections.

The outstanding professional career of Minister
Kuczynski, who has held important positions in government as
well as in the international business and financial world,
provides a view of his proven experience that would enable
him to carry out and effectively contribute to the important
function of leading the IDB.

We would like to mention that Dr. Kuczynski, as
Minister of Economy and Finance, has been the leader of
Peru's solid macroeconomic development and of the sustained
growth of the Peruvian economy for forty-four months,
reaching annual growth of 4.3% last year, the highest since
the 1970s and one of the highest in Latin America. Dr.
Kuczynski gained broad experience while at the World Bank,
the International Finance Corporation, and the International
Monetary Fund. He has served as the Peruvian Governor for
the IDB from July 2001 to July 2003 and from February 2004
until present. He was also President of the IDB Assembly of
Governors 45th Meeting.

As IDB Peruvian Governor and President of the Governors
Assembly from March 2004 until April 2005, Dr. Kuczynski
contributed to the development and strengthening of this
institution. Attached please find the curriculum vitae of
the Peruvian candidate.

Based upon the arguments mentioned beforehand, the
Government of Peru would greatly appreciate the valuable
support of the Government of the United States of America
for the Peruvian candidacy of the IDB Presidency.

The Ministry of Foreign Relations avails itself of this
opportunity to renew to the Embassy of the United States of
America the assurances of its highest consideration.

End Text of unofficial translation.

STRUBLE