Oman hints at joining union


“A revision of the exchange rates and volumes of reserves should be made before establishing the single currency,” Oman’s Minister Responsible for Foreign Affairs Yusuf bin Alawi bin Abdallah said in an interview with state-owned Oman and
Al Shabiba Arabic dailies on Saturday.

“The revising process is not restricted by a timeframe. We cannot finally say that we will not join the GCC single currency. Considering our own interests, everything is possible,” he added. Abadallah said his country had not stood in the way of the other GCC states setting up a common currency, adding: “We have supported this desire by not opposing such a move which would have hindered the project, as it needs to secure unanimous approval of the GCC member states like other GCC decisions.”


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