Gulf states are unlikely to meet a 2010 deadline for monetary union, Qatar’s Prime Minister and Foreign Minister H E Sheikh Hamad bin Jassem bin Jabor Al Thani said here yesterday
Manama • Gulf states are unlikely to meet a 2010 deadline for monetary union, Qatar’s Prime Minister and Foreign Minister H E Sheikh Hamad bin Jassem bin Jabor Al Thani said here yesterday.
Saudi Arabia, Qatar and their neighbours agreed to stick to their timetable for monetary union after a summit in Doha last week. Oman said last year it had decided not to join by 2010. The other states were also unlikely to meet the deadline, Sheikh Hamad bin Jassem said.
Gulf policymakers will, meanwhile, meet within days to discuss currency revaluations after the region’s rulers agreed to keep exchange rates pegged to the weakened dollar, Bahrain’s foreign minister said. Currency revaluations are being considered, although states with dollar pegs have agreed to keep them in place, Bahraini Foreign Minister Sheikh Khaled bin Ahmed Al Khalifa said.
