TNAG-1270-FCO40-1620-Financial-policy-in-Hong-Kong-1983 — Page 29

HKK

100/7

REPARED IN KEGYTY NO. 51

20 OCT 1983

DESK OFFICER

INDEX

86

TOP COPY

REGISTRY

PA

#ation Taken

CONFIDENTIAL

24857

4

1

DD 171400Z UKDEL IMF/IBRD WASHINGTON

GRS 117

CONFIDENTIAL

DESKBY 171400Z

FM FCO 171230Z OCT 83

TO IMMEDIATE UKDEL IMF/IBRD WASHINGTON

TELEGRAM NUMBER 317 OF 17 OCTOBER

YOUR TELNO 346 HONG KONG AND THE IMF

1.

THE

UNDER THE ARTICLES OF THE IMF IT IS THE RESPONSIBILITY OF HMG TO GIVE THE NOTIFICATION, BUT WE DO SO ON BEHALF OF THE HONG KONG GOVERNMENT. WE SUGGEST YOU USE A FORMULA LIKE I AM INFORMING THE BOARD ON BEHALF OF THE HONG KONG AUTHORITIES THAT ...'.

FUND MAY HAVE RECORDS OF THE FORM OF WORDS USED WHEN SIMILAR NOTIFICATION WAS GIVEN IN 1967 AND 1972, AND YOU SHOULD USE THESE

AS A MODEL.

2. ON YOUR SECOND POINT, THERE ARE PRECEDENTS FOR THE NOTIFICATION, AND WE DO NOT JUDGE THAT THE RISK OF UNWELCOME INTEREST BY IMF MEMBERS IS ANY GREATER NOW THAN ON EARLIER OCCASIONS.

HOWE

NNNN

DISTRIBUTION

LIMITED

HD/HKD

HD/ERD

MR GIFFARD

MR DONALD

MR EVANS

COPIES

MR GILCHRIST BANK OF ENGLAND

MR LAVELLE H M TREASURY

1

CONFIDENTIAL