HKK
2.0
10017
Takes
SECRET
23735
-
1
DD HONG KONG 120100Z
GRS 138
SECRET
DESKBY 120100Z
FM FCO 111600Z OCT 83
TO IMMEDIATE HONG KONG
TELEGRAM NUMBER 1034 OF 11 OCTOBER
PERSONAL FOR BREMRIDGE FROM CLIFT
1.
UNDER ARRANGEMENTS WITH THE IMF THE HONG KONG DOLLAR IS
A NON-METROPOLITAN CURRENCY FOR WHICH THE UK GOVERNMENT HAS
ACCEPTED THE OBLIGATIONS OF ARTICLE IV. UNDER SECTION II(B)
OF THAT ARTICLE THE UK IS REQUIRED TO NOTIFY THE IMF PROMTLY, IE
WITHIN THREE DAYS, OF ANY CHANGE IN HONG KONG'S EXCHANGE
ARRANGEMENTS.
2.
PERHAPS THE BEST WAY OF NOTIFYING THE IMF WOULD BE TO
FOLLOW THE PRECEDENT OF 1972 WHEN THE FORM OF WORDS USED IN THE
PUBLIC ANNOUNCEMENT WAS TRANSMITTED TO HMG AND COPIED TO UKDEL
IMF WITH A REQUEST THAT FORMAL NOTIFICATION BE GIVEN BY THE
LATTER TO THE FUND. BY THIS MEANS THE FUND CAN GET THE RELEVANT
INFORMATION AT THEIR OPENING OF BUSINESS ON THURSDAY 13 OCTOBER.
HOWE
NNNN
DISTRIBUTION
LIMITED
HD/HKD
COPIES TO
MR C D ELSTON, BANK OF ENGLAND
MR B UNWIN, TREASURY
HD/ERD
PS
PS/MR LUCE
PS/PUS
MR GIFFARD
MR EVANS
1
MR DONALD
SECRET
62