Cablegate: Iraqi Central Bankers Receive Training in Cairo

VZCZCXYZ0001
RR RUEHWEB

DE RUEHEG #2202 1981418
ZNR UUUUU ZZH
R 171418Z JUL 07
FM AMEMBASSY CAIRO
TO RUEHC/SECSTATE WASHDC 6158
RUEHGB/AMEMBASSY BAGHDAD 0197
INFO RUEATRS/DEPT OF TREASURY WASHDC

UNCLAS CAIRO 002202

SIPDIS

SIPDIS

STATE FOR NEA/ELA, NEA/I, NEA/ASST, NEA/RA, EB/IDF
TREASURY FOR IA/SAEED, MATHIASEN, ALVO
NSC FOR WATERS
COMMERCE FOR 4520/ITA/ANESA/OBERG

E.O. 12958: N/A
TAGS: ECON EFIN EINV EG
SUBJECT: IRAQI CENTRAL BANKERS RECEIVE TRAINING IN CAIRO

1. (U) During the week of July 15-20 the IMF is providing training
to 25 officials from the Iraqi Central Bank at the offices of the
Egyptian Banking Institute (EBI), the Central Bank of Egypt's
primary banking training facility. The training is part of the IMF
response to U.N. Security Council Resolution 1546 which asked that
"international financial institutions strengthen their efforts to
assist the people of Iraq in the reconstruction and development of
the Iraqi economy, including by providing international experts"
(article 20). The IMF teamed up with the U.S. Federal Reserve Board
to present this workshop which focused on banking supervision
issues. U.S. Treasury advisors also participated. Iraqi Central
Bank Deputy Governor Ahmad Mohamad Al-Juboory was the senior-most
Iraqi to attend. The IMF has organized two to three of these
workshops per year since 2004, all of which have been outside Iraq;
this is the first to be held in Cairo. Attendees and presenters
noted that the session went well. We understand the next workshops
are scheduled for November 2007 and spring 2008, with locations yet
to be determined.

2. (U) Comment: The willingness of the GOE to host this training
for Iraqi officials is an indication of Egypt's commitment to
helping rebuild Iraq. The cooperative efforts of the U.S. Federal
Reserve Board, the IMF and the GOE in providing this training could
serve as a model for other cooperative efforts among international
institutions and governments in addressing key issues in Iraq's
recovery.

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