Gulf reserves set to top $2 trillion

If global oil prices remain high, foreign exchange reserves in the six Gulf Cooperation Council (GCC) countries will exceed $2 trillion by the end of this year.

This is the finding of new research by Institute of International Finance (IIF), a global trade body for the banking industry. The IIF also said currency pegs in five of the six member states are aggravating inflation.

The institute's research estimates that high oil prices could fuel a current account surplus of $250 billion in 2008

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: