Middle-east Arab News Opinion | Asharq Al-awsat

Gulf Seeks to Ease Single Currency Obstacles -Kuwait - ASHARQ AL-AWSAT English Archive
Select Page

KUWAIT, (Reuters) – Gulf central bank governors plan to discuss removing obstacles to planned monetary union at a meeting in Qatar next week, state-owned Kuwait News Agency (KUNA) reported on Wednesday, citing Kuwait’s central bank.

“The meeting will look into the matter of preparing for monetary union between states of the Gulf Cooperation Council, and ways to speed up performance and remove obstacles,” KUNA reported, citing a central bank statement.

Central bank governors of the six Gulf Arab states, including Saudi Arabia, the United Arab Emirates and Qatar, plan to meet in the Qatari capital, Doha, on April 6 and April 7 against a backdrop of soaring inflation and falling interest rates.

All the states except Kuwait peg their currencies to the dollar.

Ostensibly, the six states plan to create a single currency by Jan. 1, 2010.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

More Posts

Follow Me:
FacebookGoogle PlusYouTube