Kuwaiti doubts

KUWAIT WANTS THE start date of a currency union it agreed to with three other Gulf states delayed beyond January. The official Kuwait News Agency quotes a statement by the Ministry of Finance as saying Sunday the project should be delayed until its "technical" studies are completed.

It did not provide further details but said Kuwait was committed to the plan, which is seen as a major step toward setting up a Gulf equivalent of the European Union. An agreement paving the way for the currency union was signed in June by Saudi Arabia, Kuwait, Bahrain and Qatar. Oman opted out, and the UAE withdrew after it was passed over as the HQ of the region’s central bank.

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