Tuesday 20 January 2009

Wealth funds should fuel Gulf

Kuwait City: Gulf states should use their sovereign wealth funds to help steer their economies through the global financial crisis, an Arab League official said.

"Saudi Arabia and Gulf countries should invest in their economies," Mohammad Bin Ebrahim Al Twaijri, assistant secretary general for economic affairs in the 22-nation Arab League, said in Kuwait City.

The Arab League will propose to the Arab Economic Summit, being held in Kuwait January 19 and 20, ways of dealing with the fallout from the global economic crisis, Al Twaijri said.

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