28 OCT
E6.
15:31 OVERSEAS DEVELOPMENT 071 2730571
From:
M A Power
Extn:
0155 Rm V710
Date: 28 October 1993
cc: PS/Mr Lankester
Mr Hudson
Mr Ireton (or)
Mr Chakrabarti Ms Cund
Mr Whitney, HKD
Mr Ainscow
PS/Lady Chalker
IMF/WORLD BANK 1997 ANNUAL MEETINGS: HONG KONG
P.2
Problem
In support of Hong Kong's bid to host the 1997 IMF/World Bank Annual Meetings, HMG will probably have to accept a contingent liability of around £3.5mn. Should ODA share this liability
jointly with the Treasury?
Recommendation
2.
Provided other elements of the package can be
be resolved
satisfactorily, Hong Kong remains very keen to host the meeting,
an objective which has full FCO Ministerial backing. If it becomes necessary for HMG to accept a contingent liability, we
should agree to share this jointly with Treasury.
Background
3.
IMF/World Bank Annual Meetings are held outside Washington once every three years. 1997 is Asia's turn; and Hong Kong has
for some time registered its wish to host the meetings.
Hong
Kong, however, is not a member of the Bank or Fund in its own
right. We have been negotiating with the Chinese for over a year about the precise role the Hong Kong authorities would play; but
some politically sensitive details remain to be settled. Throughout the negotiations, we have been seeking to ensure that
assurances on the provision of facilities and so on in the period
/up
No comments yet.
Private notes are available after approval.