ZCZC
NOEAN 3977 ORWBAN 2611 RESTRICTED
P MODEV
M/WADEL TO MODEV.
089130Z SEP
GRS 417
RESTRICTED
FM UKDEL IMF/IBRD WASHINGTON
TO PRIORITY ORA
TELNO MODEV 124
OF 08213AZ SEPTEMBER 88
FOR IFID
SUMMARY
RESTRICTED 09 SEP 1988
M~69
1. Enter + by to Miss Gr
2. Miry/liver あ
COPY
нистогра
12 SEP 1990
65
pursue with Mr Birrell OD A
futher
read out on
for highlighted passage. Does
this square
what
the three
The Speed with
this (871K).
REGISTRATIONLY.
MIGA: SECOND MEETING OF BOARD OF DIRECTORS, 7 SEPTEMBER
DIRECTORS APPROVED RESOLUTIONS ATTACHED TO AGENDA ITEMS 1, 2 AND 3.
2 AND 3. DECISION OVER JOINT IFC/MIGA FOREIGN INVESTMENT ADVLSORY SERVICE (ITEM 4) DEFERRED TO NEXT MEETING (NOVEMBER 9) IN ABSENCE OF CONSENSUS. INFORMATION ITEMS UPDATED. REPORT FOLLOWS BY BAG. DETAIL
2.
3.
Copics taken
will pursue
79 13/9
AGENDA ITEM 1: IN A BRIEF STATEMENT. MRS. RUBIO (SPAIN) EXPLAINED EVENTS OF JUNE & LEADING TO SPAIN'S EXCLUSION FROM MIGA BOARD. SHE STATED THAT FOLLOWING REPRESENTATIONS FROM OTHER EDS SPAIN HAD AGREED TO WITHDRAW PROPOSAL TO REDUCE SHARE SUBSCRIPTION THRESHOLDS FOR ELECTION OF DIRECTORS. THIS EASED THE WAY FOR DIRECTORS TO AGREE AN AMENDMENT OF PARA 1 OF RESOLUTION 6 SIMPLY EXTENDING THE RESOLUTION TO EACH STATE NOT REPRESENTED ON MIGA'S BOARD AND ADMITTED TO MEMBERSHLP AT OR BEFORE A DATE FOUR MONTHS BEFORE THE START OF THE ANNUAL MEETING OF THE COUNCIL IN 1989.
AGENDA ITEM 2: XU (CHINA) FORMALLY NOTED HIS AUTHORITIES ACCEPTANCE OF THE RESOLUTION ON THE UNDERSTANDING THAT ON THE TRANSFER OF SOVEREIGNTY FROM UK TO CHINA IN 1997 HONG KONG SHOULD BE TREATED AS AN INSEPARATE PART OF CHINA. ISHIKAWA (JAPAN) INTERVENED BRIEFLY TO RECORD HIS INSTRUCTIONS TO ABSTAIN ON THE RESOLUTION UNLESS IT WAS MODIFIED TO FLIMINATE THE REFERENCE TO THE FALKLANDS. A STAFF PROPOSAL TO QUALIFY THE RESOLUTION THROUGH EXCLUSION FROM COVER OF UK
VESTMENTS (IN LINE WITH THE FULL TEXT OF PARA 1.21 OF THE OPERATIONAL REGULATIONS) WAS APPROVED ONLY DRAGHI (ITALY) - RESERVED HIS POSITION PENDING FORMAL CONFIRMATION BY AUTHORITIES.
4.
"
AGENDA ITEM 4: STRONG OPPOSITION TO THE PROPOSAL FOR A JOINT IFC/MIGA ADVISORY SERVICE FROM US, CANADA, KUWAIT AND ITALY WHO ARGUED FOR AN IMMEDIATE TRANSFER OF FIAS FROM IFC TO.. MIG.
FRG, UK, NETHERLANDS AND JAPAN SUPPORTED MANAGEMENT S PROPOSAL AS A PRACTICAL MEASURE SUBJECT TO REVIEW AFTER AN APPROPRIATE PERIOD. IN ABSENCE OF CONSENSUS, CONABLE (CHAIRMAN) AGREED TO TABLE A PAPER SETTING OUT THE RANGE OF BUDGETARY AND ADMINISTRATIVE CONSEQUENCES OF DIFFERENT OPTIONS OPEN TO BOTH IFC AND MIGA FOR NOVEMBER MEETING. NEED FOR AN EARLY DECISION ON THIS ISSUE WAS STRESSED. IFC REPORTEDLY STILL PLAN TO BRING THE PAPER (IFC/R88-118) TO THE BOARD NEXT WEEK PROBABLY ON WED 14, NOT THURSDAY 15 SEPTEMBER.
REMAINDER OF AGENDA CAUSED LITTLE COMMENT.
5.
5.
ODA PLEASE PASS TO LIFE (HMT), FLEMING (BOE), SHARPE (ERD) AND POND (ECGD).
46
CASSELL