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Moody’s: UAE pullout from GCC currency union plan has no direct effect on its ratings

Posted on 22 May 2009

From Menareport.com: Moody’s Investors Service announced today that the recent decision of the UAE not to participate in the Gulf Cooperation Council’s (GCC’s) proposed monetary union will not directly affect the country’s sovereign ratings.
Furthermore, any potential postponement or cancellation of the GCC currency union project that may or may not follow the UAE’s decision would not directly affect the sovereign ratings of other GCC member states…….Full Article: Source

 
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