ISA
United Kingdom Treasury and Supply Delegation
Entish Embassy Washington DC 20008
Telephon-1202) 462-1340
Flex Dotmismu. USA 89-2370/89 2384
Telex International 64224(WUJI)/248308(RCA)/440015(ITT)
Mrs. M.E. Hedley-Miller
1.M. Treasury
London, England
Dea
от
HKCK ozzlı АКК
You
RECEIVED IN RES:STRY NO. 51
2 4 MAR 1981 Our reference
DESK OFFICER INDEX
MS
кора
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them
Bate March 10, 1981
Action Taken
ZM AN 242
Mr. Sample Sole Mr. Rayne.
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IMF: HONG KONG
Habermeier telephoned me yesterday to inform me, as courtesy, that he would be in Hong Kong from the afternoon of Friday a matter of
April 3 to the morning of Monday April 6. He will be spending a weekend there while he is in the Far East to visit "certain Asian countries" to see if they are willing to buy Fund paper. He is anxious to widen the circle of countries financing the Fund beyond G-10. Habermeier was as discreet as always, but I know from other sources that his visit includes Malaysia and Singapore.
Habermeier then flew a kite. If, he said, the Hong Kong authorities would themselves have any interest in buying some Fund paper, he would of course be happy to discuss this with them. He made the suggestion in the most tentative way possible, but I offered to relay it.
From the point of view of the UK itself, I suppose that it would be marginally helpful if Hong Kong did buy some Fund paper. But I am not sure there would be any great attraction for Hong Kong itself in investing part of its reserves in this form. The only way to discover that is to ask them, and if they were at all interested they would presumably wish to see Habermeier to discover something of the terms the Fund would be offering.
If
I am copying this letter to Nicholas Bayne and Ron Gilchrist. it emerges that Habermeier can usefully make any calls in Hong Kong could you please let me know. Habermeier leaves this Saturday, but I should be able to pass a message to him through his office.
Your
Tinal
Lionel D.D. Price
cc: Mr. N.P. Bayrie, FCO
Mr. R.H. Gilchrist, B/E
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