-23/01/90
16:46
ODA EASTKILBRIDE
CODE 18-77
Mr Stone
NO. 018
Reference..
002
{ }
нква
RECEIVED IN REGISTRY
RECEIVED
19FEB1990
DESK OFFICER
INDEX
RA
REGISTRY
FROM: DS FISH
(GTN 7 7243 3444)
| Action Taken DATE: 23 January 1990
Hong Kong Department/FCO
for asked You Mr Pusinelli.
immediate
comments
on the
proposed
draft
reply
to
It would be a
2. I am content with all but the penultimate paragraph. hostage to fortune to suggest that the appropriate safeguard would lie As you know I am pretty somewhere between $0 and $16 to the El sterling. well convinced that we shall be forced into providing a sterling safeguard in due course, but that for any proposal to secure Treasury acceptance, the rate would have to be no better than 14 and possibly nearer 20. circumstances I paragraph and simply add
retain would
the first
sentence the following
of the
In the penultimate
"But I am satisfied that at current rates of exchange and taking into are doing salaries, pensioners account the levels of Hong Kong reasonably well, certainly in comparison with their UK counterparts. do think it is necessary to contemplate In these circumstances I introducing any exchange rate protection at this stage,"
D S FISH
борис
Overseas Pensions Department
23 January 1990
HKB3421/4
RECEIVED IN RE CTRY
21 FEB 1990
DESK OFFICE"
INDEX
FA