RESTRICTED
Achön
10/2.
20
073221
MDLIAN 2583
RESTRICTED
FM HONG KONG TO PRIORITY ODA
TELNO MODEV 1
OF 07074OZ FEBRUARY 92
INFO ROUTINE PEKING, F C O, MANILA
ж
MANILA FOR U.K. EXECUTIVE DIRECTOR ASIAN DEVELOPMENT BANK
YOUR TELNO 1235:
DEVELOPMENT FUND
A.
CONTRIBUTION BY HONG KONG TO THE ASIAN
ON THE POINTS RAISED IN PARAGRAPH 2 OF TUR
HONG KONG'S PRESENT LEVEL OF CALLABLE CAPITAL STOCK TOTALS 8,478 SHARES, AMOUNTING TO SDR 84,780,000. THIS IS EQUIVALENT TO USD 95.99 MILLION, COMPRISING USD45.72 MILLION FOR THE ORIGINAL CAPITAL SUBSCRIPTION AND THE FIRST AND SECOND GENERAL CAPITAL INCREASES (EACH SHARE VALUED AT USD12,063.5, BEING THE RATE ADOPTED BY THE BANK UNTIL 1978) AND USD50.27 MILLION FOR THE THIRD GENERAL CAPITAL INCREASE (EACH SHARE VALUED AT USD10,723.4, BEING THE RATE ADOPTED BY THE BANK AS AT 30 SEPTEMBER 1982).
B.
THERE IS CURRENTLY NO INFORMATION ON THE LIABILITIES TO BE INCURRED IN CONSEQUENCE OF THE NEXT GENERAL CAPITAL INCREASE.
C. THE AMOUNT OF OUTSTANDING LIABILITIES FOR ADF IV IS USD 344,000 WHILE THAT FOR ADF V IS USD980,000.
D. WE WILL WORK OUT WITH THE BANK THE DETAILED ARRANGEMENTS TO DISCHARGE OUR ADF COMMITMENTS BY 1997. ONE POSSIBILITY IS TO MAKE OUTRIGHT ADVANCE PAYMENTS FOR CONTRIBUTIONS UNDER ADF VI RATHER THAN ISSUING PROMISSORY NOTES AND TO ARRANGE ADVANCE ENCASHMENT OF PROMISSORY NOTES ISSUED PREVIOUSLY.
2.
ACCORDING TO THE ABOVE CALCULATIONS, HONG KONG'S CURRENT TOTAL OUTSTANDING LIABILITIES IS USD 97.314 MILLION, COMPARED TO THE CURRENT STATUTORY LIMIT OF PDS. STG 140 MILLION FOR THE UK'S GUARANTEE ON HONG KONG'S LIABILITIES TO THE ADB.
WILSON
PAGE 1 RESTRICTED
↑
No comments yet.
Private notes are available after approval.