IMF doubts monetary deadline
Thursday, April 12 - 2007 at 06:23
The International Monetary Fund doubts whether the GCC can achieve monetary union by 2010. Gulf states need to set up a common institutional framework as a precondition to monetary union, according to the IMF's World Economic Outlook, cited by Gulf News. Meanwhile, the IMF is predicting slower growth for the region on lower hydrocarbon prices, with the current account surplus expected to fall to around 10.75% of GDP in 2007 compared to 18% in 2006.
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James McInerney, News EditorThursday, April 12 - 2007 at 06:23 UAE local time (GMT+4)
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This Article was updated on Wednesday, May 02 - 2007
Index : Finance and Economy
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