GCC’s efforts to create a single currency is delayed because of the debt crisis in Europe
In a press release recently the Chairman of the Economic Development Board of Bahrain is quoted stating that the original plan to introduce a single currency in the GCC region have to be postponed because of the debt crisis in Europe. According to the original plan it was intended to be implemented in 2010. The rationality of introducing such currencies remain as the the six member countries already are economically integrated through its close link to the price and consumption of crude oil.
Bahrain is one of LHV Persian Gulf Fund’s investment countries and is also considered one of the most diversified of the Gulf States.