Identifier
Created
Classification
Origin
07ROME346
2007-02-21 12:02:00
UNCLASSIFIED//FOR OFFICIAL USE ONLY
Embassy Rome
Cable title:
ITALY LIKELY TO SUPPORT RESTORING IMF VOTING
how-toVZCZCXRO3035 OO RUEHFL RUEHNP DE RUEHRO #0346 0521202 ZNR UUUUU ZZH O 211202Z FEB 07 FM AMEMBASSY ROME TO RUEHC/SECSTATE WASHDC IMMEDIATE 7232 INFO RUEHSB/AMEMBASSY HARARE PRIORITY 0218 RUEHMIL/AMCONSUL MILAN PRIORITY 8368 RUEHNP/AMCONSUL NAPLES PRIORITY 2327 RUEHFL/AMCONSUL FLORENCE PRIORITY 2177 RUEATRS/DEPT OF TREASURY WASHDC PRIORITY
UNCLAS ROME 000346
SIPDIS
SENSITIVE
SIPDIS
STATE FOR EB/IFD/OMA AUDU BESMER AND AF/S STEVEN D. HILL
E.O. 12958: N/A
TAGS: EFIN IMF PREL ZI IT
SUBJECT: ITALY LIKELY TO SUPPORT RESTORING IMF VOTING
RIGHTS TO ZIMBABWE
REF: STATE 20057
UNCLAS ROME 000346
SIPDIS
SENSITIVE
SIPDIS
STATE FOR EB/IFD/OMA AUDU BESMER AND AF/S STEVEN D. HILL
E.O. 12958: N/A
TAGS: EFIN IMF PREL ZI IT
SUBJECT: ITALY LIKELY TO SUPPORT RESTORING IMF VOTING
RIGHTS TO ZIMBABWE
REF: STATE 20057
1. (SBU) EconCouns met February 20 with Vincenzo Zezza,
Ministry of Finance (MOF) Director for IMF Coordination, and
Francesca Manno, MOF Development Banking Director, to discuss
reftel points. EconCouns urged our GOI counterparts to
consider pressing Zimbabwe to enact the necessary economic
and social reforms needed to act as a responsible IMF member
state before the GOI approves IMF voting rights for Zimbabwe.
Zezza replied that, while Italy has not yet fully defined
its position, the GOI could not ignore the "limited
discretion" set by IMF articles. "This is not an economic
issue, but a legal one," he argued. As Zimbabwe has cleared
its IMF arrears, Zezza explained, IMF members no longer had
the "legal right" to deny Zimbabwe IMF voting rights.
2. (SBU) While Zezza stated several times that the GOI, like
the USG, was deeply concerned about the dire economic
situation and reports of starvation in Zimbabwe, he de-linked
IMF voting rights from further Government of Zimbabwe
economic and social reforms. Zezza claimed that the GOI
could only consider continued suspension of Zimbabwe's IMF
voting rights, if IMF members discovered "between now and
February 23" that Zimbabwe had failed to meet other IMF
obligations.
SPOGLI
SIPDIS
SENSITIVE
SIPDIS
STATE FOR EB/IFD/OMA AUDU BESMER AND AF/S STEVEN D. HILL
E.O. 12958: N/A
TAGS: EFIN IMF PREL ZI IT
SUBJECT: ITALY LIKELY TO SUPPORT RESTORING IMF VOTING
RIGHTS TO ZIMBABWE
REF: STATE 20057
1. (SBU) EconCouns met February 20 with Vincenzo Zezza,
Ministry of Finance (MOF) Director for IMF Coordination, and
Francesca Manno, MOF Development Banking Director, to discuss
reftel points. EconCouns urged our GOI counterparts to
consider pressing Zimbabwe to enact the necessary economic
and social reforms needed to act as a responsible IMF member
state before the GOI approves IMF voting rights for Zimbabwe.
Zezza replied that, while Italy has not yet fully defined
its position, the GOI could not ignore the "limited
discretion" set by IMF articles. "This is not an economic
issue, but a legal one," he argued. As Zimbabwe has cleared
its IMF arrears, Zezza explained, IMF members no longer had
the "legal right" to deny Zimbabwe IMF voting rights.
2. (SBU) While Zezza stated several times that the GOI, like
the USG, was deeply concerned about the dire economic
situation and reports of starvation in Zimbabwe, he de-linked
IMF voting rights from further Government of Zimbabwe
economic and social reforms. Zezza claimed that the GOI
could only consider continued suspension of Zimbabwe's IMF
voting rights, if IMF members discovered "between now and
February 23" that Zimbabwe had failed to meet other IMF
obligations.
SPOGLI