TNAG-1270-FCO40-1620-Financial-policy-in-Hong-Kong-1983 — Page 49

DD WASHINGTON 141730Z

DD C G NEW YORK 14173OZ

GRS 199

SECRET

DEDIP

DESKBY 141730Z

FM FCO 141535Z OCT 83

SECRET DEDIP

24560 2

HKK

10017

20 CCT 1983

aken

76A

TO IMMEDIATE WASHINGTON

TELEGRAM NUMBER 1705 OF 14 OCTOBER

AND TO IMMEDIATE CONSUL GENERAL NEW YORK DESKBY 141730Z (PERSONAL FOR CONSUL GENERAL)

PERSONAL FOR WICKS

1.

FOLLOWING IS TEXT OF A MESSAGE FROM THE GOVERNOR OF THE

BANK OF ENGLAND TO CHAIRMAN VOLCKER. GRATEFUL IF YOU WOULD

DELIVER IT AS SOON AS POSSIBLE. TEXT OF FINANCIAL SECRETARY'S STATEMENT, TO BE ATTACHED TO THE MESSAGE, IS IN HONG KONG TELNO 1522 TO THE FCO, NOW REPEATED TO YOU IMMEDIATE. (FOR CONSUL

74 GENERAL NEW YORK). GRATEFUL IF YOU WOULD PASS COPIES TO

ANTHONY SOLOMON, PRESIDENT FRBNY.

BEGINS: FOLLOWING OUR RECENT TELEPHONE CONVERSATION I AM

PASSING TO YOU FOR YOUR PERSONAL INFORMATION THE PROPOSED TEXT

OF AN ANNOUNCEMENT WHICH WILL BE MADE BY THE FINANCIAL SECRETARY

OF THE HONG KONG GOVERNMENT AT NOON LOCAL TIME ON SATURDAY

15 OCTOBER, FOLLOWING A DECISION BY THE GOVERNOR OF HONG KONG

IN COUNCIL.

THE TEXT OF THE ANNOUNCEMENT MAY BE AMENDED IN DETAIL BUT NOT IN

ESSENCE. AS YOU WILL APPRECIATE THE TIMING OF THE ANNOUNCEMENT

IS CAREFULLY CHOSEN TO COINCIDE WITH A PERIOD WHEN MARKETS WILL BE CLOSED AROUND THE WORLD. CONFIDENTIALITY UNTIL THAT

TIME IS THEREFORE PARTICULARLY IMPORTANT. ENDS.

See (81

HOWE

DISTRIBUTION

MINIMAL

HD/HKD

WH101

SMP WH103

COPIES TO

MR LOEHNIS BANK OF ENGLAND (STRICTLY PERSONAL)

SECRET