I
Tuesday, August 7, 1973
HONG KONG AND BRITAIN IN MONETARY TALKS
The Financial Secretary, Mr. C.P. Haddon-Cave, left for London
last (Monday) night to hold discussions with officials of the U.K. government
on monetary matters. He was accompanied by the Accountant General, Hr. D.W.A.
Blye.
The discussions, concerned primarily with the future security of
Hong Kong's sterling balances, were arranged at Hong Kong's instigation.
They will be held with a Minister and senior officials of the
U.K. Treasury and are expected to last three days, commencing tomorrow
(Wednesday).
Mr. Haddon-Cave will be in touch with the Governor, Sir Murray
MacLehose, during the course of the talks and Sir Murray is expected to
interrupt his holiday in Scotland in order to fly down to London on Thursday
to join the discussions.
Asked whether Hong Kong would be putting forward specific proposals,
a Hong Kong Government spokesman said: "Her Majesty's Government is well
aware of our views on the security and management of our external reserves,
Until the discussions are completed, further details cannot be given."
He pointed out that the Hong Kong Government had been in close touch
with Her Majesty's Government, and these discussions follow as a natural
development.
weekend.
The Financial Secretary is expected to return to Hong Kong at the
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