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IMF against GCC dollar revaluation
- Tuesday, December 19 - 2006 at 06:50
The International Monetary Fund is telling GCC countries they should invest their record oil revenues in infrastructure, education and health, rather than revalue currencies to resolve imbalances caused by a falling US dollar, Emirates Today reported. Investment would raise capacity for foreign investments and imports, the daily quoted IMF deputy MD Takatoshi Kato as saying.
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James McInerney, News EditorTuesday, December 19 - 2006 at 06:50 UAE local time (GMT+4)
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This article was updated on Sun Dec 24 2006.
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