Gulf calls for the Coordination to face financial crisis and warns of recession
Arab Gulf states assured the need for international coordinated efforts to avert a global economy in the doldrums after losing them billions of dollars in Western banks affected by the financial crisis of America.
Gulf officials have called United Nations General Assembly to include in this effort actions to address weaknesses, and to restore stability to the financial system and prevent such situations again.
Saudi Foreign Minister Prince Saud al-Faisal expressed his fears of a global economic recession soon in the case of developed countries to take action by the crisis could limit international trade and reduce the flow of investments.
He said that the impact of credit crisis in USA was around the whole world, because of their impact on the international financial system.
Gulf officials have praised the plan of the U.S to rescue seven hundred billion dollars to save the American economy, which experienced difficulties in its adoption in the United States until now, which is the debate in Congress.