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It’s easy for Kuwait's finance ministry to talk like that.

The Kuwaiti dinar is no longer pegged to the US dollar. The dinar is pegged to a basket in which, we are told, the dollar figures prominently. Perhaps there is no US dollar at all in the basket.

Kuwait's finance ministry should first disclose the composition of the basket.

The value of the US dollar will indeed very soon be reduced its intrinsic value.

This may not affect the Kuwaiti dinar (if indeed there is no US dollar in the basket), but will have serious consequences for the three (plus two?) other currencies of the proposed GCC Monetary Union.

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