Iraqi Dinar Discussion Board

[stockings3333]

GCC Single currency delay - official report

--------------------------------------------------------------------------------

is this good for us or bad for us???



The 2010 deadline for the GCC monetary union and single currency looks set to be pushed back as Gulf Arab states struggle to meet monetary and economic requirements, according to an official report.

Despite Gulf leaders publicly sticking to the deadline at the GCC summit in December, the report seen by UAE daily Emirates Business 24/7 reveals that finance ministers had told their heads of state they would not be ready by 2010.

According to the report, which the newspaper said was labelled “classified document”, GCC leaders have asked ministers and central bank governors to come up with a new date and timeframe for establishing a monetary union and single currency.

http://www.arabianbusiness.com/50849...l-report?ln=en