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GCC central banks claim adequate liquidity, credit flow

Posted on 26 March 2009

From Gulfnews.com: Gulf Arab economies could shrink this year due to oil price declines, but liquidity is adequate and credit still growing, central bankers in the world’s top oil-exporting region said Wednesday.

Sultan Nasser Al Suwaidi, the UAE Central Bank governor, told a banking conference that he did not expect oil prices to average more than $40-$44 (Dh146-Dh161) per barrel in 2009, a far cry from the highs near $150 in July that marked the peak of an economic boom across the six-member Gulf Cooperation Council…..Full Article: Source

 
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