TNAG-0382-FCO40-428-Sterling-assets-and-balance-of-payments-of-Hong-Kong-1974 — Page 44

CONFIDENTIAL

not be surprised that we cannot give any firm general guidance on this, but you might find useful the last two paragraphs of Sharkey's letter of 10 December, of which I enclose a copy.

Since the questions you raised are of relevance elsewhere in the Gulf, I am sending a copy of this letter and the enclosures to other Gulf posts.

6.

S J G CAMBRIDGE Financial Relations Department

Cc:

HE Mr A J Wilton CMG MC Kuwait

HE Mr E F Henderson CMG Qatar

AE Saunders Esq, Dubai

RH Turner Esq Bank of England

W L St Clair, Esq H M Treasury CJ Sharkey Esq, BOTB PMS Corley Esq, DTI PRI Wright Esq, MED

A V Gray Esq, TRED

M A Goodfellow, Esa IIKIOD

CONFIDENTIAL