CONFIDENTIAL
HKC 031/10
13
036706
MDHIAN 0081
CONFIDENTIAL
FM HONG KONG
TO IMMEDIATE FCO
TELNO 703
OF 070945Z MAY 93
AND TO UKDEL WASHINGTON, PEKING
WASHINGTON: FOR IMF/IBRD
پرژه
R+R
фа
Not on FILE
IMF/IBRD 1997 ANNUAL MEETINGS: MYTEL MISC 6 OF 14 APRIL 93.
1.
FURTHER TO PARA 2 OF TUR, EXCO AGREED ON 27 APRIL THAT APPROVAL BE GIVEN FOR A FORMAL APPLICATION TO BE MADE FOR THE 1997 MEETINGS TO BE HELD IN HONG KONG, SUBJECT TO THE ACCEPTANCE OF THE FINANCIAL COMMITMENTS BY THE FINANCE COMMITTEE (FC) OF THE LEGISLATIVE COUNCIL.
2.
THE PASSAGE THROUGH FC MIGHT BE A ROUGH ONE BECAUSE THE COST OF THE MEETINGS TO HONG KONG IS SUBSTANTIAL AND IT IS DIFFICULT AT THIS STAGE TO GIVE A MEANINGFUL ESTIMATE OF THE COST TO QUANTIFY THE FINANCIAL COMMITMENTS THAT WE SEEK FROM THE FC. WE WILL SHORTLY BE BRIEFING FC MEMBERS BEFOREHAND TO SEEK SUPPORT FOR OUR REQUEST AND WE INTEND THAT OUR FORMAL SUBMISSION TO THE FCO BE DISCUSSED IN EARLY JUNE. WE AIM TO REVERT TO THE BANK/FUND WITH A CLEAR POSITION BEFORE THIS YEAR'S ANNUAL MEETINGS IN
SEPTEMBER.
3.
WE HAVE UNDERTAKEN TO KEEP THE CHINESE SIDE OF THE JLG ABREAST OF DEVELOPMENTS. WE WILL THEREFORE NEED TO UPDATE THEM BEFORE OUR FC SUBMISSION GOES PUBLIC. WE SUGGEST THAT UKREP JLG AND UKDEL IMF/IBRD SHOULD TAKE ACTION IN PARALLEL TO INFORM THEIR RESPECTIVE COUNTERPARTS. THE MOST APPROPRIATE OPPORTUNITY TO INFORM THE CHINESE SIDE HERE WILL BE AT ONE OF OUR REGULAR WEEKLY MEETINGS OF THE JLG. THE NEXT SUCH MEETING WILL TAKE PLACE ON 13 MAY. (FOR UKDEL IMF/IBRD WASHINGTON: IF THIS IS CONVENIENT, GRATEFUL FOR CONFIRMATION THAT YOU CAN TAKE ACTION AT ABOUT THE SAME TIME). WE PROPOSE USING THE FOLLOWING WITH THE CHINESE SIDE:
(A) EXCO HAS GIVEN APPROVAL THAT A FORMAL APPLICATIONS BE MADE FOR THE 1997 MEETINGS TO BE HELD IN HONG KONG, SUBJECT TO ACCEPTANCE OF THE FINANCIAL COMMITMENTS BY FC:
(B) HKG PLANS TO SEEK FCO APPROVAL IN EARLY JUNE SO THAT
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CONFIDENTIAL