GCC states need to jettison ‘destabilising' US-dollar pegs, says Qatar's Al Khater
Members of the Gulf Co-operation Council (GCC), such as Qatar, should end their current peg to the US dollar in favour of moving to trade-weighted baskets similar to the approach deployed by the Monetary Authority of Singapore, according to a senior economist at the Qatar Central Bank.
A shift to a trade-weighted basket would help GCC countries to tackle domestic inflation, at a time when the relative share of demand for their oil from the US is declining – something that has caused US monetary
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