TNAG-0382-FCO40-428-Sterling-assets-and-balance-of-payments-of-Hong-Kong-1974 — Page 123

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ORWELL

TO PRIORITY GOVERNOR HONG KONG TELNO 1271 OF 12 DECEMBER. 1973

YOUR TELNO 1433: STERLING GUARANTEE

1. WE WERE PLEASED TO SEE FROM YOUR TELNO 1433 THAT E.X.C.0.

ACCEPTED YOUR RECOMMENDATION THAT HONG KONG SHOULD PARTICIPATE

IN THE GUARANTEE ARRANGEMENTS.

2. AS TO TIMING OF PUBLICITY WE SEE NO POINT IN DELAY AND SUGGEST

THAT YOU PROCEED WITHIN THE FRAMEWORK ALREADY AGREED AS YOU JUDGE

APPROPRIATE.

DOUGLAS-HOME

ORWELL DISTRIBUTION

FRD

HKIOD.

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