Gulf oil producers yesterday denied reports that they have shelved plans to launch a monetary union by 2010 and said the issue would be discussed by their heads of state at a meeting in May.
Quoting officials from the Gulf Co-operation Council (GCC) yesterday, Reuters and other news reports said member countries have decided to extend the 2010 deadline for the world's second currency union.
Reacting to such reports, GCC Secretary-General Abdul Rahman Al Attiyah said the 2010deadline remains in force, according to the Saudi Arabic language daily Al Jazeera.
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