GCC Monetary Union (proposed)

E340445

economic integration initiative proposed monetary union regional integration project

The proposed GCC Monetary Union is a planned economic integration initiative aiming to establish a single currency and unified monetary policy among member states of the Gulf Cooperation Council.

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All labels observed (2)

Label	Occurrences
GCC Monetary Union (proposed) canonical	1
Gulf monetary union	1

Statements (48)

Predicate	Object
instanceOf	economic integration initiative ⓘ proposed monetary union ⓘ regional integration project ⓘ
aimsTo	improve price transparency across GCC markets ⓘ reduce exchange rate risk within the GCC ⓘ strengthen the international role of a GCC currency ⓘ
basedOn	customs union and common market integration sequence ⓘ monetary union model ⓘ
challenge	dependence on hydrocarbon revenues ⓘ differences in fiscal policy among GCC states ⓘ political coordination among member states ⓘ
country	Bahrain ⓘ Kuwait ⓘ Oman ⓘ Qatar ⓘ Saudi Arabia ⓘ United Arab Emirates ⓘ
currency	proposed single GCC currency ⓘ
facetOf	GCC Common Market ⓘ surface form: GCC common market GCC Customs Union ⓘ surface form: GCC customs union GCC economic integration ⓘ
goal	create a unified monetary policy among GCC member states ⓘ enhance economic integration among GCC countries ⓘ establish a single currency for GCC member states ⓘ facilitate intra-GCC trade and investment ⓘ increase macroeconomic stability in the GCC ⓘ
hasAspect	exchange rate policy coordination ⓘ foreign reserves management at GCC level ⓘ inflation targeting or price stability objective ⓘ payment and settlement system integration ⓘ
inception	early 2000s (planning phase) ⓘ
inspiredBy	European Union economic and monetary union ⓘ surface form: European Economic and Monetary Union
legalForm	intergovernmental agreement (proposed) ⓘ
partOf	Gulf Cooperation Council ⓘ
proposedBy	Supreme Council of the GCC ⓘ surface form: Gulf Cooperation Council leaders
region	Gulf region ⓘ Middle East ⓘ
requires	convergence of macroeconomic indicators among member states ⓘ coordination of fiscal policies among GCC members ⓘ establishment of a supranational monetary authority ⓘ
status	not yet implemented ⓘ under discussion among GCC member states ⓘ
topic	GCC economic and social coordination ⓘ surface form: GCC economic policy coordination currency unions ⓘ monetary integration ⓘ regional economic integration ⓘ
usesInstrument	common monetary policy framework ⓘ single GCC central bank (proposed) ⓘ

Referenced by (2)

Full triples — surface form annotated when it differs from this entity's canonical label.

GCC Common Market → relatedTo → GCC Monetary Union (proposed) ⓘ

GCC Monetary Council → topic → GCC Monetary Union (proposed) ⓘ

this entity surface form: Gulf monetary union