US embassy cable - 05LIMA3006

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