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Wednesday, March 27, 1974
HONG KONG'S STERLING RESERVES
Statement On Renewal Of Agreement To Be Made By Government
The government is not in a position to make a statement at
this time on the renewal of the agreement covering Hong Kong's sterling
reserves, the Financial Secretary said today.
He said the reason was that the technical documents relating
to the proposed extension of the present arrangement to the end of this
year, announced by Her Majesty Treasury on March 15 last, had not yet
arrived in Hong Kong.
Mr. Philip Haddon-Cave was replying to a question by the Hon.
F.C. Woo who asked for a government statement on the renewal of the agreement
covering Hong Kong's sterling reserves.
The Financial Secretary said: "Clearly, these documents must
be studied carefully and Executive Council consulted before the government
can come to a view."
However, he assured Mr. Woo that he would make a statement to
the Legislative Council as soon as he was in a position to do so.
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