TNAG-0380-FCO40-426-Sterling-assets-and-balance-of-payments-of-Hong-Kong-1973 — Page 57

Ministers collectively are very conscious of the importance to

Hong Kong of their sterling balances. Lack of consultation

should not be construed as demonstrating a lack of concern for the stability and welfare of the Colony (see also paragraphs

2 and 4 of the Annex). These are matters which HMG have very

much in mind, It is now for the Hong Kong Government to consider

our offer. In our view it is an extremely generous one since

the guarantee is being given at the current rate.

4.

Financial Relations Department concur.

13 September 1973

cc:

Mr Wilford

Mr Holland

Mr Marshall

Mr Cambridge (FRD) Mr Stuart L

CONFIDENTIAL

R B Crows on

Hong Kong and Indian Ocean Department