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March 10/09. Kazakh President
Nursultan Nazarbayev has called for the creation of a single world currency
called the "acmetal" as a means of combating the worsening global financial
crisis.
"In our view, we must create a
single world currency under the aegis of the United Nations," Nazarbayev
said on Tuesday, a day before a major economic conference opens in his
Central Asian country. We must make a transition to an absolutely new global
currency system based on legitimacy and, in view of all countries, one
single monetary system," he told a meeting of the Eurasian Association of
Universities.
This is the first time Nazarbayev
has spoken publicly about the need for a single world currency although he
has previously written about it. He first called for the creation of a
worldwide currency, to be called "acmetal" - a combination of "acme," a
Greek word meaning the peak or the best, and "capital" - in an article
published last month.
Kazakhstan, an energy-rich Central
Asian state, has enjoyed growth rates of up to 10 per cent over the last
years but it has been hit, like its ex-Soviet neighbours, by the credit
crunch as well as the dramatic fall in oil prices. -
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