Gulf single currency unlikely before 2013, says paper
Agencies
Published: June 06, 2009, 12:19
Riyadh: Plans by Gulf Arab states to launch a single currency could be delayed by three years to 2013, a Saudi newspaper reported on Saturday, quoting an unidentified senior Gulf source.
"It is impossible for the (single) currency to be launched within six months," Al Hayat newspaper quoted the official as saying.
"I expect the new deadline to be 2013," the official said.
Last month, the UAE became the second Gulf Arab nation after Oman to abandon the single currency project of the Gulf Cooperation Council (GCC).
Earlier this year, the GCC abandoned an initial 2010 deadline for issuing the common notes and coins, saying a joint monetary council would determine a new timetable for issuance.
http://www.gulfnews.com/business/Ban.../10320239.html
Agencies
Published: June 06, 2009, 12:19
Riyadh: Plans by Gulf Arab states to launch a single currency could be delayed by three years to 2013, a Saudi newspaper reported on Saturday, quoting an unidentified senior Gulf source.
"It is impossible for the (single) currency to be launched within six months," Al Hayat newspaper quoted the official as saying.
"I expect the new deadline to be 2013," the official said.
Last month, the UAE became the second Gulf Arab nation after Oman to abandon the single currency project of the Gulf Cooperation Council (GCC).
Earlier this year, the GCC abandoned an initial 2010 deadline for issuing the common notes and coins, saying a joint monetary council would determine a new timetable for issuance.
http://www.gulfnews.com/business/Ban.../10320239.html