Monetary Union Among Member Countries of the Gulf Cooperation Council
( Occasional Papers )
Publication series ： Occasional Papers
Author： Mr. Ugo Fasano-Filho Ms. Andrea Schaechter
Publisher： INTERNATIONAL MONETARY FUND
Publication year： 2003
E-ISBN: 9781452721767
P-ISBN(Paperback): 9781589062191
Subject： F0 Economics;F8 Finances
Language： ENG
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Description
The six member countries of the Gulf Cooperation Council (GCC)--Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates--have made important progress toward economic and financial integration, with the aim of establishing an economic and monetary union. This paper provides a detailed analysis of the economic performance and policies of the GCC countries during 1990-2002. Drawing on the lessons from the experience of selected currency and monetary unions in Africa, Europe, and the Caribbean, it assesses the potential costs and benefits of a common currency for GCC countries and also reviews the options for implementing a monetary union among these countries.