<PAGE> PAGE 1
000 A000000 03/31/94
000 C000000 820675
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 U
001 A000000 THE FIRST IBERIAN FUND, INC.
001 B000000 811-5304
001 C000000 2123266200
002 A000000 345 PARK AVENUE
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10154
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
020 A000001 ASESORES BURSATILES
020 C000001 24
020 A000002 DILLON READ & CO.
020 B000002 13-1939216
020 C000002 20
020 A000003 CAZENOVE & CO.
020 C000003 4
020 A000004 BARING SECURITIES
020 B000004 04-2455153
020 C000004 4
020 A000005 FLEMING
020 C000005 4
020 A000006 SCHROEDER MUNCHMAYER
020 C000006 3
020 C000007 0
020 C000008 0
020 C000009 0
020 C000010 0
021 000000 58
022 A000001 DILLON READ
022 B000001 13-1939216
022 C000001 588
022 D000001 3296
022 A000002 ASESORES BARSATILES
022 C000002 2248
022 D000002 1517
022 A000003 FLEMING
022 C000003 1400
022 D000003 0
<PAGE> PAGE 2
022 A000004 SCHROEDER MUNCHMAYER
022 C000004 600
022 D000004 544
022 A000005 CAZENOVE & CO.
022 C000005 1121
022 D000005 0
022 A000006 BARING SECURITIES
022 B000006 04-2455153
022 C000006 0
022 D000006 509
022 C000007 0
022 D000007 0
022 C000008 0
022 D000008 0
022 C000009 0
022 D000009 0
022 C000010 0
022 D000010 0
023 C000000 6354
023 D000000 5866
062 A000000 N
062 B000000 0.0
062 C000000 0.0
062 D000000 0.0
062 E000000 0.0
062 F000000 0.0
062 G000000 0.0
062 H000000 0.0
062 I000000 0.0
062 J000000 0.0
062 K000000 0.0
062 L000000 0.0
062 M000000 0.0
062 N000000 0.0
062 O000000 0.0
062 P000000 0.0
062 Q000000 0.0
062 R000000 0.0
071 A000000 6801
071 B000000 6626
071 C000000 57201
071 D000000 23
072 A000000 6
072 B000000 40
072 C000000 833
072 D000000 0
072 E000000 -9
072 F000000 292
072 G000000 58
072 H000000 0
072 I000000 15
<PAGE> PAGE 3
072 J000000 71
072 K000000 0
072 L000000 30
072 M000000 58
072 N000000 0
072 O000000 124
072 P000000 0
072 Q000000 0
072 R000000 40
072 S000000 28
072 T000000 0
072 U000000 0
072 V000000 0
072 W000000 47
072 X000000 763
072 Y000000 0
072 Z000000 100
072AA000000 497
072BB000000 0
072CC010000 6652
072CC020000 0
072DD010000 0
072DD020000 0
072EE000000 0
073 A010000 0.0000
073 A020000 0.0000
073 B000000 0.0000
073 C000000 0.0000
074 A000000 0
074 B000000 0
074 C000000 0
074 D000000 0
074 E000000 0
074 F000000 60658
074 G000000 0
074 H000000 0
074 I000000 237
074 J000000 0
074 K000000 0
074 L000000 225
074 M000000 0
074 N000000 61120
074 O000000 0
074 P000000 52
074 Q000000 0
074 R010000 0
074 R020000 0
074 R030000 0
074 R040000 195
074 S000000 0
074 T000000 60873
<PAGE> PAGE 4
074 U010000 6511
074 U020000 0
074 V010000 9.35
074 V020000 0.00
074 W000000 0.0000
074 X000000 286
074 Y000000 0
075 A000000 0
075 B000000 58441
076 000000 8.13
077 A000000 N
078 000000 N
080 A000000 ICI MUTUAL INSURANCE COMPANY
080 C000000 40000
081 A000000 Y
081 B000000 61
082 A000000 Y
082 B000000 100
SIGNATURE THOMAS F. MCDONOUGH
TITLE VICE PRESIDENT