Gulf single currency should be phased: Kuwait

Gulf states should implement a monetary union and single currency in phases, Kuwait’s central bank governor said in comments published on Sunday, casting further doubt on a 2010 target date.

“Due to the limited progress achieved so far… I believe that the best way is to work out an administrative plan for the monetary union and single currency and implement it in stages,” Sheikh Salem Abdulaziz al-Sabah told Awan newspaper. Source