LOC13:02
10:02 GMT
KUWAIT, Jan 14 (KUNA) -- The Arab League presented a number of proposals that will be discussed by the finance ministers and governors of central banks in their meeting Wednesday, said Assistant Secretary General for Economic Affairs Dr. Mohammad Al-Tuwaijri.
Speaking to KUNA on the sidelines of the meeting of Arab finance ministers, governors of central banks, and heads of monetary funds, which kicked off earlier today, he said the proposals were in line with policies of the Arab Monetary Fund and focused on control of Arab monetary markets, combating price hikes, and reducing the impact of the global financial crisis.
He explained that this meeting came in preparation for the Arab Economic Summit.
He described the decision of the GCC Summit in Muscat for issuing a common Gulf currency by 2010 as "important," especially as the US dollar was expected to depreciate. (end) sar.ema KUNA 141302 Jan 09NNNN