Iraq poses the single currency project at a meeting of Arab ministers of economy

[patriotic party girl]

Portal Iraq, "the follow-up economics editor

Finance Minister Rafie al-Issawi said that "the Iraqi delegation participating in the meeting of the Ministers of Economy and Finance Forum to introduce a currency union between the Arab countries in the economic framework of the preparation of files to be presented to Arab leaders at their summit on Thursday.

It quoted "Rn" for al-Issawi that "this project, if implemented, will enhance the ability of Arab countries will address the economic and Mchkakl inflation, unemployment and economic slack that has plagued Iraq and a number of Arab countries."

He pointed out that "The meeting also discussed the obstacles to build a dry canal link between the Arab countries in addition to providing Iraq with 150 megawatts of electricity through the line of Eight."

The Iraqi Ministry of Trade and the Ministers of Economy and Finance Arabs voted Tuesday to three strategies related to the tourism and water security and disasters.

http://www.albawwaba.net/economic/80992/

[zigmeister]

GREAT POST Patriotic Girl!! It appears the Arab Nations are pursuing this goal of one currency. Iraq is a part of the Arab Nations, so the question I have is, if this pans out, why would Iraq bother with a new currency? Unless of course their currency will become the reserve currency that the Arab Nations will peg their currency to. This way they keep it all in house....which seems what they mean to do.

[puckster_guy]

Seems to me it's one thing to discuss a unified currency, or economic union for that matter. But, getting them to sit down and hammer out an agreement is something totally else. Gl on that one....jmo not that i'm am expert or anything. I can't see that happing soon, but in the future? Who knows?

Edited March 28, 2012 by puckster_guy

[zigmeister]

They have been working on this for a long time. The IMF has already given them the thumbs up on this.