Dinaress
07-23-2005, 07:03 AM
There are several aspects that favor a GMU. Among them a strong political will combined with historically stable exchange rate regimes and currencies that are pegged to the U.S. dollar which simplifies the perspective of a single currency. On the economic side, the six GCC countries share the same macro economic structure; oil and gas exports are their major source of government revenue and they are all implementing restructuring plans emphasizing the importance of liberalization and diversification.
it is expected that by 2007 the GCC common market will become a reality,
while the launch of a common currency is planned for January 2010.
http://menafn.com/qn_news_story_s.asp?StoryId=101270
The primary objective to help Iraq get going is implementing alternative means of commerce will make their currency more stable. Relying solely on oil with its volatility in rates would lead to disaster.
it is expected that by 2007 the GCC common market will become a reality,
while the launch of a common currency is planned for January 2010.
http://menafn.com/qn_news_story_s.asp?StoryId=101270
The primary objective to help Iraq get going is implementing alternative means of commerce will make their currency more stable. Relying solely on oil with its volatility in rates would lead to disaster.