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Gulf states agree on monetary union
December 31, 2008
Gulf Arab states will maintain their 2010 deadline for a single currency, the secretary-general of the Gulf Cooperation Council (GCC) has said.
Leaders of GCC countries (Saudi Arabia, the United Arab Emirates, Kuwait, Qatar, Oman and Bahrain) approved a final draft of an accord on a monetary union agreement in their annual summit in Muscat, the capital of Oman, on Tuesday.
The agreement would pave the way for a single currency, which all GCC states but Oman are working towards launching.
“I think it is within the time which has been allocated .. 2010,” Abdul-Rahman al-Attiyah said in response to a question about a date for a common currency.
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