HK to host WB, IMF meet

HK to host WB, IMF meet

HONG KONG (AFP): The Hong Kong government welcomed yesterday the decision by the World Bank and International Monetary Fund (IMF) to hold their general meetings here after China takes over sovereignty in July 1997.

Reacting to a decision by the World Bank and IMF boards of governors late Monday to hold their 1997 general meetings in Hong Kong from Sept. 23-25, 1997, acting Financial Secretary Donald Tsang said, "The decision is itself a boost of confidence in the territory."

He said the holding of such "prestigious" events in Hong Kong, soon after the transfer of sovereignty was of "significance" to the territory, adding that "it will be a timely affirmation of Hong Kong's continuing status as an international financial center after 1997."