MINISTER OF FINANCE RESIGNS TO BECOME NEW IDB

UNCLAS GUATEMALA 001505 SIPDIS SIPDIS TREASURY FOR NANCY LEE E.O. 12958: N/A TAGS: EFIN ECON PGOV PREL GT SUBJECT: MINISTER OF FINANCE RESIGNS TO BECOME NEW IDB SECRETARY GENERAL SIPDIS ¶1. Summary: Minister of Finance Hugo Beteta has been appointed the new Secretary General of the Inter-American Development Bank (IDB). Beteta will leave his current post on July 31 and take up his duties at the IDB on September 1, ¶2007. End summary. ¶2. At a July 26 press conference, President Berger announced that Minister of Finance Hugo Beteta will assume the position of Secretary General of the Inter-American Development Bank (IDB) on September 1, 2007. Beteta, who was asked by IDB president Luis Alberto Moreno to serve as the new Secretary General, will become the first Central American to assume this high-profile position. Vice President Stein highlighted the importance of the position, saying that Beteta will work directly with the IDB president. ¶3. Beteta highlighted Guatemala's economic achievements over the past three-and-a-half years of the Berger administration, during which time he served first as Secretary of Planning and, since September 2006, as Minister of Finance. He noted that Guatemala is ranked among the top countries in the world for reforms in the area of business climate and that it has the highest indicator of transparency in the national budget among countries in the region. ¶4. Comment: The Embassy has had a close relationship with Beteta and we believe he will make a great contribution to the IDB. Derham