Conclusion
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6
16.
The
analysis clearly favours greater disclosure in
two areas:
(a)
17.
(b)
It
some indication on the size of the Fund; and
total foreign currency assets held by the Fund (the "international reserves").
is, therefore, proposed that the simple balance sheet at Annex
of this paper be published on an annual basis with a time lag of, say, six months. Now is as good a time to publish as any. Possible response as to why published at this time could be along the
figures ace
following lines:
18.
(a)
(b)
a sound
monetary framework has been built up for Hong Kong; therefore no need to withhold information of public interest;
is
the overall financial position of Hong Kong very strong; information should therefore be useful for investors properly to assess a borrower, in relation to the forthcoming bond programme.
HKG
as
It would be undesirable presentationally for the Government to be seen to concede on disclosure only in the '
of mounting public pressure or, worse still, after the Chinese side have released the figures supplied by the Hong Kong Government on a confidential basis.
19.
paper.
Members' views are sought on the proposal in this
office of the Exchange Fund
Monetary Affairs Branch
Government Secretariat
29 June 1991
CONFIDENTIAL
P.C
No comments yet.
Private notes are available after approval.