N. Nazarbayev proposes to establish common world currency

DELHI. January 24. KAZINFORM /Aigul Tulekbayeva/ President of Kazakhstan Nursultan Nazarbayev considers it necessary to establish common world currency instead of regional ones, Kazinform reports.

According to the Head of the State, all countries are experiencing the global financial crisis and at present nobody can answer the question concerning what the world would be after the crisis. Undoubtedly, it will be different. Many countries like Latin America and Arab countries speak today for establishment of their regional currencies. The CIS countries? leaders also think over such proposition. In the President?s opinion, ?we will face great chaos ifif the world goes to such localization?. He noted that India is one of the largest countries of the world ranking the fourth by its economy. It is a participant of such summits as G8 and G20. As a solution, Kazakhstan proposes to create a common world currency. ?The countries of the world should agree on establishment of a worldwide unit revenue for exchange of goods which will be adopted by the UN and controlled by relevant commissions?, N. Nazarbayev said at the Kazakh-Indian business forum in Delhi.