Middle East News
OPEC's chief rejects dollar fall reference ahead of summit
Nov 16, 2007, 20:49 GMT
Riyadh - The head of the Organization of Petroleum Exporting Countries (OPEC) rejected Friday a request to include concerns over the falling value of the US dollar in a final declaration to be agreed at the end of a summit this weekend.
Abdallah Salam al-Badri, OPEC's secretary general, said an Iranian request to reference the weak dollar would not be part of the final document, which will emerge after a Saturday and Sunday summit in the Saudi capital Riyadh.
In a note before a preparatory meeting of the OPEC summit, Iranian Foreign Minister Manouchehr Mottaki requested that Iran's 'concerns over the weak performance of the US dollar' be mentioned in the summit's concluding statement.
Venezuela was quick to support the Iranian call, but Saudi Foreign Minister Saud al-Faysal said it would lead to a 'collapse' in the US currency.
© 2007 dpa - Deutsche Presse-AgenturCOMMENT
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Older Talkback
page: 1
The Dollar is heading for the Titanic, no amount of papering over the problems will cure the slump. The US has been spending vast amounts of money financing it's illegall war in Iraq, and now the chickens are coming home to roost, lets just hope they haven't got( bird flue ).
page: 1
JimNov 16th, 2007 - 21:24:27
Whether or not mention of the weak dollar is included in the declaration seems immaterial - obviously worries about the parlous state of the dollar are there, are being talked about and clearly concern the OPEC members
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