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HONG KONG LEADER TUNG CHEE-HWA WITH FINANCIAL SECRETARY DONALD TSANG, 1998-06-22 (photo)

IMAGE number
REU8189905
Image title
HONG KONG LEADER TUNG CHEE-HWA WITH FINANCIAL SECRETARY DONALD TSANG, 1998-06-22 (photo)
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Medium
photograph
Date
1998 AD (C20th AD)
Shooting Date
1998-06-22
Image description

Hong Kong leader Tung Chee-hwa (L) pauses as Hong Kong Financial Secretary Donald Tsang speaks at a news conference June 22. Tung, looking somber in his live televised address, said he would implement more measures to help the battered economy but he vowed that the U.S.-Hong Kong dollar peg would remain. The peg, in place since 1983, is the only major fixed exchange rate left in Asia after a year of currency turmoil, but the cost of its survival has been crippling high interest rates. LC/FY/ME

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REUTERS / Bridgeman Images
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