Treasury chief Geithner in Gulf to explain US economic defense

Timothy Geithner is scheduled to pay his first visit to the Gulf as US Treasury secretary this week with a message that may sound jarringly familiar to the one his predecessor delivered a little over a year ago: the US and its dollar remain sound destinations for the region’s oil profits.

Mr Geithner’s visit is part of a zigzag journey across Europe and the Middle East to explain the American response to the global economic recession and win support for greater financial pressure on Iran and international terrorist networks.

Analysts say Mr Geithner may also urge Saudi Arabia and the UAE to lend more money to the IMF to help bail out nations ravaged by the global economic crisis.

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