7.01
1990-10-08
19:28 G.1.5
Office
From Gist Deity offers) London (the
08-OCT-1290 13:00
SECRETARIAT PRESS OFFICE
Rod:G=5/4/7/1220
+852 868 5212 P.82
TRANSCRIPT OF REMARKS BY THE FINANCIAL SECRETARY SIR PIERS JACOBA UPUN HIO RETURN FROM AN IMF MEETING ON OCTOBER 6, 1990:
ye: Good afternoon ladies and gentleman. Thank you for coming out as usual to welcome me back.
You all know I had my natal annual visit to the TMK. I went to washington, then on to New York for a day and then back to. Cendon just essentially for a day. A lot of interesting talks I've had but nothing very dramatic to report to YOU. I reckon you probably already read them from nowepapers. I' 11 take questions.
0: Have you discusseil the financing of the airport project with banks And Ainancial institutiona?
FS: Yee.
I did. I have many meetings with a lot of people but they were not meetings designed specifically for the purpose of duccussing the financing of the airport. I have meetings regularly
These occasions with a number of people in financial
The subject of the aisport of course came up.
01
2: What sort of Feedback are you receiving gonerally as you travelled around to the wirport project?
Well sinuation
one point i would like to make is that the financial the world today is not the game ** 16 wae in October 1980 Wiseb wa made the announcement. In making that statemont I would not vien you to think that we're going to have colocool difficulties in Famennung nbc airport. but we are living in a new environment, new Sloancial environment. So we have to think about it very carefully, and approach this in a far more structured manner.
21903, you sata ve are not going to have closcal
•
#་ As I say VAG world situation is rather different from what it was. So you'le working against a different background. I am not saying That we won't be able to finance 42. Clearly we will be able LO Finance il. But we have may work at it very carefully.
q: but under such circumstances, why the Government still decided to go whead with Eunding of the Lantau Fixed Crossing by itself ?
FR: Well of course I wasn't here when that decision was made so ĭ can't dikruse
•
Q: Dut or course
you know beforehand.
53: 7 knew that that WAS an option. I certainly knew that that was Ha option.
q: will the Government borrow money from the Asian Development Bank?
I don't want to abate at this arage who lenders are likely to be but we have to consideæ all possible sources.
C. IA Phas an option?
P3:
an option, YPE. Whore are many different options.
0. Is this because the consortium feeling unsecureî