TNAG-1270-FCO40-1620-Financial-policy-in-Hong-Kong-1983 — Page 42

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SECRET

DESKBY 1409OOZ

FM HONG KONG 1402DOZ OCT 33

TO IMMEDIATE FCO

TELEGRAM NUMBER 1523 OF 14 OCTOBER

FOLLOWING PERSONAL FOR CLIFT FROM GOVERNOR.

YOUR TELNO 1042: STABILISATION MEASURES.

THE RATE WILL BE DECIDED TOMORROW. IT IS LIKELY TO BE AROUND

DOLLARS 7.80 TO DOLLARS 7.90.

2. THERE WILL BE A FEW TEXTUAL AMENDMENTS TO THE FINANCIAL

SECRETARY'S STATEMENT IN MY TELNO 1522. WE WILL TELEGRAPH FINAL

TEXT TO YOU AND THE IMF DELEGATION AS SOON AS IT IS MADE.

3. ANY SUPPORTIVE COMMENT FOR OUR EFFORTS TO STABILIZE WHICH

CAN BE MADE IN LONDON AFTER THE STATEMENT HAS ISSUED WILL BE

VERY HELPFUL.

YOUDE

LIMITED HD/HKD

HD/ERD (MR APPLEYARD) PS

MR

PS/MR LUCE

PS/ PUS

MR EVANS

MR GIFFARD

MR DONALD

COPIES TO:

MR BURROWS, LEGAL ADVISERS

D PERETZ. TREASURY MR T HOLLAND, BANK OF ENGLANI

SEORET