CONFIDENTIAL
(b) Declining value of HMOCS pensions
But
Hong Kong dollar has declined against sterling recently. not persuaded that, overall, present arrangements work to the disadvantage of Hong Kong pensioners. In longer term, link with US dollar makes for stability and certainty.
}
(c)
(a)
Hong Kong Department May 1988
CONFIDENTIAL
THIS IS A COPY
THE ORIGINAL HAS BEEN CLOSED UNDER
FOI EXEMPTION NO....27(1)