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Gulf to keep 2010 as single currency target: GCC
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Posted 04 December 2007 @ 06:16 pm GMT
The final communique to be issued at the end of a Gulf Arab heads of state summit on Tuesday will maintain a commitment to achieve monetary union by 2010, the secretary-general of the 6-nation Gulf Cooperation Council said.
Abdul Rahman Bin Hamad Al Attiyah, secretary-general of the Gulf Co-operation Council. The final communique to be issued at the end of a Gulf Arab heads of state summit on Tuesday will maintain a commitment to achieve monetary union by 2010, the secr...
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cooperation council currency dollar gulf
Asked by Reuters whether the communique would include a commitment to the 2010 date, Abdul-Rahman al-Attiyah replied: "Yes."
Markets remain deeply sceptical that a single currency can be created in the Gulf by 2010, as countries seek to follow divergent strategies to try to cope with rising inflation and dollar weakness.
This article is copyrighted by Reuters.
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