HKK 5/6
Miss England (Financial Policy & Aid Department,
G 133/2)
I told you that we were preparing a brief for Lord Shepherd to use during his visit to Hong Kong about the problems to do with Sterling guarantees which have arisen between Hong Kong and ourselves. I attach a copy of a draft at which I should be grateful if you would look urgently. Please feel free to make any amendments you may wish.
21
2. I have put in a final paragraph about Mr. Fogarty's visit which I now understand will be for a week beginning 29 May. I think you said that these dates may be changed perhaps depending on the outcome of the present disagrement with Hong Kong over the proposal to increase the borrowing powers of the Exchange Fund. I should like to be able to say (our brief will be for Mr. Moreton rather than for the Minister himself) that if the technical aspects of this matter are brought up with him he should refer the matter to Mr. Fogarty. He will not wish of course to escape our share of the responsibilities but he cannot be expected to be familiar with the technical diffi- culties. It would be most helpful if you could put in a paragraph about Mr. Fogarty's visit when its purpose etc. is clearly known.
(H. H. Stewart)
20 May, 1969 Hong Kong Department K 245 MA 625