Gulf oil producers have to revisit their 2010 target for monetary union, Bahrain’s central bank governor said earlier today, as states across the region focus on tackling the fallout from the global financial crisis.
Bahrain is one of five states, along with the UAE, Saudi Arabia, Kuwait and Qatar, that is working towards launching a single currency by a 2010 target date set eight years ago.
Economists and some policymakers have said meeting that deadline — which initially envisioned issuing notes and coins by January. 1, 2010 — is virtually impossible.
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