Saudi Press underscores importance of King`s launching of new projects in Madinah Region 2 Riyadh

The Abha-based Al-Watan commenting on the outcome of the G-8 summit,
recently held in Italy, said the important outcome of the summit is
reaching unanimously an agreement in an unprecedented manner.

The daily pointed out that President Barack Obama announced during
the election campaign that he would be keen on tackling important
issues like shortage of food in the world and global warming.

"Undoubtedly, the international problems concerned with environment,
food security and climate change as well as poverty are not debatable
matters and so the summit hosted some African presidents realizing
the importance of dealing with a continent suffering from poverty and
diseases.

But the economic issues are still debatable notably the issue of
taking dollar as an international reserve currency".


"Countries of developing economies like China, supported by Russia
and India and Brazil, have called for the diversification of the
international reserve currency on the long term and to refrain from
dependence on the dollar, said the paper, adding that this issue will
cause discussions in the forthcoming years notably if the US under
the leadership of Obama becomes capable of re-organizing its internal
house in a strong manner," the paper noted.

"Most of the countries of G-8 stand behind the US but at the same
time these are aware of the importance of countries like China,
India, Russia, and Brazil".

--SPA