Middle East Economic Survey

VOL. LII

No 50

14-Dec-2009

KUWAIT

Kuwait Ratifies Single Currency Pact, Minister Warns Of Delays

Kuwaits parliament ratified a Gulf monetary union pact on 8 December, helping to pave the way for the establishment of a joint monetary council between Saudi Arabia, Kuwait, Qatar and Bahrain next year, to orchestrate the creation of a central bank and single currency among the four GCC members. The pact was approved by all 64 members of parliament, including the 16 cabinet...