Middle East Economic Survey


No 22



GCC Monetary Union Unlikely To Be Launched By 2015

The Gulf Cooperation Council (GCC) countries are unlikely to launch a planned single currency in the next five years given all the preparation required, Reuters quoted the GCC Secretary General 'Abd al-Rahman al-'Attiyah as saying on 25 May. He also expects the UAE and Oman, which quit the single currency project, to join the monetary union, but not until after the currency had been...