<PAGE>      PAGE  1
000 A000000 02/13/2003
000 C000000 785855
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 6.1
000 J000000 A
001 A000000 THE ITALY FUND INC.
001 B000000 811-4571
001 C000000 8003311710
002 A000000 125 BROAD STREET
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10004
003  000000 N
004  000000 Y
005  000000 N
006  000000 N
007 A000000 N
007 B000000  0
007 C010100  1
007 C010200  2
007 C010300  3
007 C010400  4
007 C010500  5
007 C010600  6
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
008 A000001 SMITH BARNEY FUND MANAGEMENT LLC
008 B000001 A
008 C000001 801-8314
008 D010001 NEW YORK
008 D020001 NY
008 D030001 10022
010 A000001 SMITH BARNEY FUND MANAGEMENT LLC
010 B000001 801-8314
010 C010001 NEW YORK
010 C020001 NY
010 C030001 10022
012 A000001 PFPC GLOBAL FUND SERVICES
012 B000001 84-1761
012 C010001 PROVIDENCE
012 C020001 RI
012 C030001 02940
013 A000001 KPMG, LLP
013 B010001 NEW YORK
013 B020001 NY
<PAGE>      PAGE  2
013 B030001 10017
014 A000001 SALOMON SMITH BARNEY, INC.
014 B000001 8-8177
014 A000002 CITICORP INVESTMENT SERVICES
014 B000002 8-40802
014 A000003 ACCI SECURITIES, INC.
014 B000003 8-0
014 A000004 BANAMEX INVESTMENT LTD.
014 B000004 8-0
014 A000005 CALIFORNIA COMMERCE BANC SECURITIES, INC.
014 B000005 8-0
014 A000006 CITICORP INTERNATIONAL LTD.
014 B000006 8-0
014 A000007 CITIBANK INVESTMENT AND SECURITIES RT.
014 B000007 8-0
014 A000008 CITICORP BROKERAGE (INDIA) LTD.
014 B000008 8-0
014 A000009 CITICORP FINANCIAL SERVICES CORP.
014 B000009 8-0
014 A000010 CITICORP INTERNATIONAL LTD.
014 B000010 8-0
014 A000011 CITICORP INTERNATIONAL SECURITIES LTD.
014 B000011 8-0
014 A000012 CITICORP INVESTMENT BANK (SINGAPORE) LTD.
014 B000012 8-0
014 A000013 CITICORP SECURITIES INTERNATIONAL (RP) INC.
014 B000013 8-0
014 A000014 CITICORP SECURITIES SERVICES, INC.
014 B000014 8-0
014 A000015 CITIVERSIONES, S.A.
014 B000015 8-0
014 A000016 CITISTREET ADVISORS LLC
014 B000016 8-0
014 A000017 CITISTREET MORTGAGE SERVICES, INC.
014 B000017 8-0
014 A000018 HANNURI SECURITIES AND INVESTMENTS CO., LTD.
014 B000018 8-0
014 A000019 NIKKO SALOMON SMITH BARNEY LTD.
014 B000019 8-0
014 A000020 P.T. CITICORP SECURITIES INDONESIA
014 B000020 8-0
014 A000021 PFS DISTRIBUTORS, INC.
014 B000021 8-0
014 A000022 PFS INVESTMENTS INC.
014 B000022 8-0
014 A000023 PT SALOMON SMITH BARNEY NUSA SECURITIES
014 B000023 8-0
014 A000024 SALOMON BROTHERS AG
014 B000024 8-0
014 A000025 SALOMON BROTHERS INTERNATIONAL LTD.
014 B000025 8-0
<PAGE>      PAGE  3
014 A000026 SALOMON BROTHERS UK EQUITY LTD.
014 B000026 8-0
014 A000027 SALOMON BROTHERS UK LTD.
014 B000027 8-0
014 A000028 SALOMON REINVESTMENT CO. INC.
014 B000028 8-0
014 A000029 SAL SMITH BARNEY AUSTRALIA CAP. MKTS. PTY LTD
014 B000029 8-0
014 A000030 SAL. SMITH BARNEY AUSTRALIA CORP. FINANCE PTY
014 B000030 8-0
014 A000031 SAL. SMITH BARNEY AUSTRALIA SECURITIES PTY
014 B000031 8-0
014 A000032 SALOMON SMITH BARNEY HONG KONG LTD.
014 B000032 8-0
014 A000033 SALOMON SMITH BARNEY NEW ZEALAND LTD.
014 B000033 8-0
014 A000034 SALOMON SMITH BARNEY SECURITIES (TAIWAN) LTD.
014 B000034 8-0
014 A000035 SALOMON SMITH BARNEY SINGAPORE PLC. LTD.
014 B000035 8-0
014 A000036 SCHRODER & CO. INC.
014 B000036 8-0
014 A000037 SUD ACCIONES Y VALORES, SOCIEDAD DE BOLSA, SA
014 B000037 8-0
014 A000038 J. HENRY SCHRODER (GUERNSEY) LTD.
014 B000038 8-0
014 A000039 J. HENRY SCHRODER S.V., S.A.
014 B000039 8-0
014 A000040 PT SCHRODERS INDONESIA
014 B000040 8-0
014 A000041 SCHRODER JAPAN LTD.
014 B000041 8-0
014 A000042 SCHRODER SECURITIES (SWITZERLAND) LTD.
014 B000042 8-0
014 A000043 SCHRODER SECURITIES LTD.
014 B000043 8-0
014 A000044 SCHRODER U.S. SECURITIES LTD.
014 B000044 8-0
014 A000045 ACCI WORLD WIDE, S.A. DE C.V.
014 B000045 8-0
014 A000046 SMITH BARNEY INVESTORS, L.P.
014 B000046 8-0
014 A000047 TOWER SQUARE SECURITIES, INC.
014 B000047 8-0
014 A000048 TRAVELERS DISTRIBUTION CO.
014 B000048 8-0
014 A000049 ZAO SALOMON BROTHERS
014 B000049 8-0
014 A000050 ACCIONES Y VALORES DE MEXICO, S.A. DE C.V.
014 B000050 8-0
014 A000051 CITISTREET EQUITIES LLC
<PAGE>      PAGE  4
014 B000051 8-0
015 A000001 STATE STREET BANK AND TRUST CO
015 B000001 C
015 C010001 BOSTON
015 C020001 MA
015 C030001 02110
015 E010001 X
018  000000 Y
019 A000000 Y
019 B000000  224
019 C000000 BARNEYOOOO
020 A000001 MORGAN STANLEY
020 B000001 13-2655998
020 C000001     11
020 C000002      0
020 C000003      0
020 C000004      0
020 C000005      0
020 C000006      0
020 C000007      0
020 C000008      0
020 C000009      0
020 C000010      0
021  000000       11
022 A000001 GOLDMAN, SACHS & CO.
022 B000001 13-5108880
022 C000001     99541
022 D000001         0
022 A000002 MERRILL LYNCH
022 B000002 13-5674085
022 C000002     38988
022 D000002         0
022 C000003         0
022 D000003         0
022 C000004         0
022 D000004         0
022 C000005         0
022 D000005         0
022 C000006         0
022 D000006         0
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     138529
023 D000000          0
024  000000 N
<PAGE>      PAGE  5
025 D000001       0
025 D000002       0
025 D000003       0
025 D000004       0
025 D000005       0
025 D000006       0
025 D000007       0
025 D000008       0
026 A000000 N
026 B000000 Y
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027  000000 N
028 A010000         0
028 A020000         0
028 A030000         0
028 A040000         0
028 B010000         0
028 B020000         0
028 B030000         0
028 B040000         0
028 C010000         0
028 C020000         0
028 C030000         0
028 C040000         0
028 D010000         0
028 D020000         0
028 D030000         0
028 D040000         0
028 E010000         0
028 E020000         0
028 E030000         0
028 E040000         0
028 F010000         0
028 F020000         0
028 F030000         0
028 F040000         0
028 G010000         0
028 G020000         0
028 G030000         0
028 G040000         0
028 H000000         0
030 A000000      0
030 B000000  0.00
030 C000000  0.00
031 A000000      0
<PAGE>      PAGE  6
031 B000000      0
032  000000      0
033  000000      0
035  000000      0
036 B000000      0
038  000000      0
042 A000000   0
042 B000000   0
042 C000000   0
042 D000000   0
042 E000000   0
042 F000000   0
042 G000000   0
042 H000000   0
043  000000      0
044  000000      0
045  000000 Y
046  000000 N
047  000000 Y
048  000000  0.950
048 A010000        0
048 A020000 0.000
048 B010000        0
048 B020000 0.000
048 C010000        0
048 C020000 0.000
048 D010000        0
048 D020000 0.000
048 E010000        0
048 E020000 0.000
048 F010000        0
048 F020000 0.000
048 G010000        0
048 G020000 0.000
048 H010000        0
048 H020000 0.000
048 I010000        0
048 I020000 0.000
048 J010000        0
048 J020000 0.000
048 K010000        0
048 K020000 0.000
049  000000 N
050  000000 N
051  000000 N
052  000000 N
053 A000000 N
054 A000000 Y
054 B000000 Y
054 C000000 Y
054 D000000 N
<PAGE>      PAGE  7
054 E000000 N
054 F000000 N
054 G000000 Y
054 H000000 Y
054 I000000 N
054 J000000 Y
054 K000000 N
054 L000000 Y
054 M000000 Y
054 N000000 N
054 O000000 Y
055 A000000 N
055 B000000 N
056  000000 N
057  000000 N
058 A000000 N
059  000000 Y
060 A000000 N
060 B000000 N
061  000000        0
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
063 A000000   0
063 B000000  0.0
066 A000000 Y
066 B000000 N
066 C000000 Y
066 D000000 N
066 E000000 N
066 F000000 N
066 G000000 N
067  000000 N
068 A000000 N
068 B000000 N
069  000000 N
<PAGE>      PAGE  8
070 A010000 Y
070 A020000 Y
070 B010000 N
070 B020000 N
070 C010000 N
070 C020000 N
070 D010000 N
070 D020000 N
070 E010000 N
070 E020000 N
070 F010000 N
070 F020000 N
070 G010000 N
070 G020000 N
070 H010000 N
070 H020000 N
070 I010000 N
070 I020000 N
070 J010000 Y
070 J020000 Y
070 K010000 Y
070 K020000 N
070 L010000 Y
070 L020000 Y
070 M010000 Y
070 M020000 Y
070 N010000 Y
070 N020000 Y
070 O010000 Y
070 O020000 N
070 P010000 N
070 P020000 N
070 Q010000 N
070 Q020000 N
070 R010000 N
070 R020000 N
071 A000000         0
071 B000000     30004
071 C000000     14998
071 D000000    0
072 A000000  1
072 B000000       15
072 C000000        0
072 D000000        0
072 E000000        0
072 F000000       11
072 G000000        0
072 H000000        0
072 I000000       12
072 J000000        4
072 K000000        0
<PAGE>      PAGE  9
072 L000000       20
072 M000000        4
072 N000000        1
072 O000000        0
072 P000000        0
072 Q000000        0
072 R000000        0
072 S000000       61
072 T000000        0
072 U000000        0
072 V000000        0
072 W000000       14
072 X000000      127
072 Y000000        0
072 Z000000     -112
072AA000000     6893
072BB000000        0
072CC010000        0
072CC020000     6912
072DD010000        0
072DD020000        0
072EE000000        0
073 A010000   0.0000
073 A020000   0.0000
073 B000000   0.0000
073 C000000   6.6497
074 A000000      302
074 B000000        0
074 C000000        0
074 D000000        0
074 E000000        0
074 F000000        3
074 G000000        0
074 H000000        0
074 I000000        0
074 J000000        0
074 K000000        0
074 L000000        0
074 M000000        0
074 N000000      305
074 O000000        0
074 P000000        9
074 Q000000        0
074 R010000        0
074 R020000        0
074 R030000        0
074 R040000      296
074 S000000        0
074 T000000        0
074 U010000        0
074 U020000        0
<PAGE>      PAGE  10
074 V010000     0.00
074 V020000     0.00
074 W000000   0.0000
074 X000000        0
074 Y000000        0
075 A000000        0
075 B000000    16563
076  000000     0.00
077 A000000 Y
077 Q010000 Y
077 Q030000 Y
078  000000 N
080 C000000        0
081 B000000   0
082 B000000        0
083 B000000        0
084 B000000        0
086 A010000      0
086 A020000      0
086 B010000   4962
086 B020000  32994
086 C010000      0
086 C020000      0
086 D010000      0
086 D020000      0
086 E010000      0
086 E020000      0
086 F010000      0
086 F020000      0
087 A010000 THE ITALY FUND, INC.
087 A020000 465395101
087 A030000 ITA
088 A000000 N
088 B000000 N
088 C000000 N
088 D000000 N
SIGNATURE   KAPREL OZSOLAK
TITLE       CONTROLLER