R 111342Z JUN 08
FM AMEMBASSY CAIRO
TO DEPT OF TREASURY WASHDC
SECSTATE WASHDC 9528

UNCLAS CAIRO 001201 
 
SIPDIS 
 
E.O. 12958: N/A 
TAGS: ECON EFIN EINV ETRD EAID EG
SUBJECT: DR. BOUTROS-GHALI'S CANDIDACY FOR CHAIRMAN OF IMFC 
 
REF: A. CAIRO 1036 B. CAIRO 1021 
 
¶1. (U) Below are the texts of two letters received June 8, 2008 and 
June 9, 2008 respectively, regarding Finance Minister Youssef 
Boutros-Ghali's candidacy for Chairman of the International Monetary 
Finance Committee (IMFC).  Post is forwarding hard copies directly 
to Secretary Paulson via fax. 
 
¶2. (U) Begin text: 
 
The Honorable, Mr. Henry M. Paulson, Jr. 
Secretary of the Treasury 
United States of America 
 
Cairo, May 12, 2008 
 
Your Excellency, 
 
I am writing you with regard to the forthcoming election of the IMFC 
Chairman, which I am sure you know is an important IMF advisory 
body. 
 
The Arab Republic of Egypt is nominating the Minister of Finance of 
Egypt, Dr. Youssef Boutros-Ghali for the post.  Minister 
Boutros-Ghali has held several prominent portfolios in the Egyptian 
Cabinet over the past 21 years.  He has done a spectacular job in 
all the high posts he has held.  He is imaginative, innovative, hard 
working and dedicated to the reforms of developing countries. 
 
Prior to his joining the Egyptian Cabinet, Dr. Boutros-Ghali, a PhD 
holder from Massachusetts Institute of Technology (MIT), worked at 
the IMF in both area and functional departments for many years.  Dr. 
Boutros-Ghali's experience, knowledge, and above all his desire to 
help developing countries are only some of his many superior 
qualities.  I firmly believe that, given his background, he would 
make an excellent Chairman of the IMFC, particularly in matters 
related to developing and emerging market countries and the global 
economy.  I am sure you will agree with me that, at the current 
history of the IMF, it is important that the IMFC be headed by a 
national of a developing country. 
 
I hope that you will support my request for the Arab Republic of 
Egypt in this election process which will serve the interest of all 
our membership.  The election is expected to take place sometime in 
the summer of 2008 and I believe that the Secretary of the IMF will 
be in touch with you on this matter. 
 
Please accept the expression of my highest consideration. 
 
Sincerely, 
Dr. Ahmed Nazif 
Prime Minister 
Arab Republic of Egypt 
(signed) 
 
End text. 
 
¶3. (U) Begin text: 
 
The Honorable, Henry M. Paulson, Jr. 
Secretary of the Treasury 
United States of America 
 
Cairo, June 1, 2008 
 
Your Excellency, 
 
It was a pleasure talking to you the other day. As per our 
conversation, I am writing to you with regard to the forthcoming 
election of the IMFC Chairman. With the resignation of MR. Tommaso 
Padoa Schioppa, the post of Chairman of the IMFC has become vacant. 
 
The Egyptian Government has submitted my candidacy to this post. 
Prime Minister Ahmad Nazif has written to you previously, seeking 
the support of the United States for my nomination.  Prime Minister 
Ahmad Nazif was very kind in stating my educational background and 
professional experience. I firmly believe that I would be able to 
serve the IMFC, particularly in matters related to developing and 
merging market countries, as well as the global economy.  Given my 
background and Egypt's status as one of the fastest reforming 
economies in the developing world, Egypt would be a natural 
candidate to chair the IMFC.  I would be able to serve the interest 
of all members and foster closer mutual cooperation between 
developed and developing countries.  This would inevitably support 
and strengthen the IMFC's work on various initiatives such as the 
reform of surveillance, quotas, the finance structure of the IMF, 
and enhancing the role of the IMF in low income countries. 
 
I hope that you can support my candidacy in the forthcoming 
election.  The election is expected to take place sometime in the 
summer of 2008 and I believe that the Secretary of the IMF will be 
in touch with your constituency at the IMF for this matter. 
 
Please accept the expression of my highest consideration. 
 
Sincerely, 
Youssef Boutros-Ghali 
(signed) 
 
End text. 
 
SCOBEY