CONFIDENTIAL
FM UKDEL IMF/IBRD WASHINGTON
TO PRIORITY FCO
TELNO 317
OF 22230OZ SEPTEMBER 93
CONFIDENTIAL
INFO PRIORITY HM TREASURY, BANK OF ENGLAND
for 031/10.
56
073430
MDLIAN 8894
TOP COPY Q DICT ?
INFO PRIORITY HONG KONG, PEKING, UKREP JLG HONG KONG
ODA FOR POWER, FCO FOR TEBBIT (ERD), HM TREASURY FOR SEDGWICK AND CUNLIFFE, BANK OF ENGLAND FOR BULLOCH
YOUR TELNOS 155 AND 163
IMF/IBRD: HONG KONG 1997 ANNUAL MEETINGS
HUC 031/10
27 SEF 1993
SUMMARY 1.
BANK AND FUND CONTENT, AFTER ALL, TO ACCEPT HONG KONG
ASSURANCES
ON FINANCIAL ARRANGEMENTS WITHOUT GUARANTEES FROM THE UK OR CHINA. PROSPECT OF RESOLVING REMAINING ISSUES IN MARGINS OF FORTHCOMING ANNUAL MEETINGS.
DETAIL
2.
STANTON AND I MET WITH WEI (FUND ALTERNATE EXECUTIVE DIRECTOR), VAN HOUTVEN AND THAHANE (FUND AND BANK SECRETARIES) TODAY. I DEPLOYED ARGUMENTS IN TUR. BOTH THAHANE AND VAN HOUTVEN INDICATED THAT BANK AND FUND WOULD BE CONTENT WITH FINANCIAL ASSURANCES FROM HONG KONG. THEY SUGGESTED THAT THE REQUISITE FORMAL ASSURANCE COULD BE GIVEN IN THE HONG KONG LETTER SUPPORTING THE INVITATION AND THIS WOULD BE GIVEN FURTHER SUBSTANCE BY HONG KONG SIGNING
THE MEMORANDUM OF UNDERSTANDING. IT WAS NOT MATERIAL TO THE BANK AND FUND HOW THESE ASSURANCES WERE COMMUNICATED. THIS WAS A MATTER FOR THE UK AND CHINA. IT WAS AN ADVANTAGE THAT THIS APPROACH WOULD TEND TO DE-EMPHASISE THE IMPORTANCE OF 1 JULY 1997 AS FAR AS THE FINANCIAL ASSURANCES WERE CONCERNED. THE ASSURANCES RELATING TO VISAS AND IMMUNITIES COULD BE DEALT WITH IN SEPARATE CORRESPONDENCE FROM THE UK AND CHINA.
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