Hong Kong well-positioned to withstand currency attacks, even with coronavirus spending, Financial Secretary Paul Chan says

Hong Kong is capable of withstanding any currency attack, even as it digs deeper than ever before into its fiscal reserves to survive the coronavirus crisis, and the budget deficit may hit HK$300 billion (US$38.7 billion), according to Financial Secretary Paul Chan Mo-po.Chan struck a reassuring tone in an exclusive interview with the Post, a week after he warned the city’s reserves would plunge from HK$1.1 trillion to about HK$800 billion, equivalent to about 15 months of public expenditure…

from South China Morning Post https://bit.ly/3cpAspQ