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Gulf single currency not imminent: Kuwait minister
AFP
Wednesday, Nov 18th, 2009
The planned Gulf single currency is unlikely to
be launched soon as "sufficient time" is needed for
preparations, Kuwait's Finance Minister Mustafa al-Shamali said
on Tuesday.
"The Gulf single currency is not happening
tomorrow or the day after. It needs sufficient time," the
minister told parliament during a debate on the ratification
of the Gulf monetary council pact.
Gulf states have set the start of next year to launch the single
currency, but recently there have been increasing signals that
the target date is unrealistic.
Earlier this month, the governor of the Saudi Arabian Monetary
Agency, or central bank, Mohammad al-Jasser said the launch
of the currency was set to be delayed.
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