Unified Gulf Currency

A Finance Ministry official says Kuwait does not want any delays to implementing a unified Gulf currency plan.

The official Kuwait News Agency on Monday quoted Finance Ministry Undersecretary Khalifa Hamada as saying Kuwait supports issuing the new currency "on schedule."

KUNA on Sunday had quoted a ministry statement saying Kuwait wanted to delay implementing the plan beyond the January deadline until technical studies are completed.

Ministry officials were not available to comment on the conflicting remarks.

The currency plan was signed in June by Kuwait, Saudi Arabia, Bahrain and Qatar, and is seen as a step toward greater economic integration between the oil rich Gulf states. Oman and the United Arab Emirates say they will not participate.

Article fromBusinessWeek.com.