Plan to destabilize Saudi Arabia

Martin Feldstein, writing in the Financial Times of London of June 18 (“Saudi Arabia should ditch its dollar peg”), favors replacing the riyal-US dollar peg with a “floating” riyal. This advice amounts to little more than a scheme to destabilize the Kingdom of Saudi Arabia.

Saudi Arabia’s economy is a mono-product economy, and its “product”, oil, is invoiced in dollars. Accordingly, if a floating exchange-rate regime were adopted, the riyal’s nominal exchange rate would fluctuate erratically as oil prices fluctuated. When the price of oil rose (fell), the riyal would appreciate (depreciate). Without a riyal peg and a nominal anchor for its price level, the Kingdom would experience a wild roller-coaster ride — one distinguished by deflationary lows and inflationary highs. When considering alternative exchange rate regimes, it pays to heed the dictum of the late Karl Schiller, a German “super minister” in the early 1970s: “Stability might not be everything, but without stability, everything is nothing.”

Steve H. Hanke, Baltimore published 26 June 2008

Don’t pump more oil

I think Saudi Arabia shouldn’t increase oil output on the basis of market trends, especially in this special situation. Israel and its allies are trying to disrupt peace or whatever is left of it, in the Middle East. If oil prices keep around $150 or above a barrel they may think twice before embarking on any new adventure. If the price comes down to $40-$50 a barrel they will regain confidence.

Saajid Pariyarath, Jeddah published 26 June 2008

No magic wand

This refers to the report, “Kingdom has no magic wand: Abdulaziz” (June 21). He struck the right note. Don’t push OPEC countries to produce more oil; rather each government should find long-term solutions to ease the problem related to oil consumption. Say for example, schemes to cut down fuel usage, shifting through alternative fuel like electricity, biofuel, hydrogen fuel etc. I believe every government should have the initiative and responsibility to look for better fuel solutions in order not to harm our environment and at the same time not to decrease the mineral.

Santillan Daniel, United States published 26 June 2008

Afghanistan

This is regarding your editorial, “Failed mission in Afghanistan” (June 21).

One thing has emerged very clearly since 9/11. The new world order means you should kill as many Muslims as possible in the shortest time possible in as many places as possible. Call all those who are killed terrorists, whether they are children, women, the old and infirm.

Lee, UK published 26 June 2008

Indian workers

This is regarding the report, “Indian workers stranded as sponsor flouts job contract” (June 21).

I feel pity for those who are trapped by recruiting agents. But the sponsors are equally responsible. There has to be a minimum wage fixed by the government. In hundreds of such cases, the sponsors just walk away from their responsibility. Immediate action is required. Everybody wants to imitate and follow the West. Why not follow the West in treating migrant workers with a little dignity and fairness?

Mirza Mansoor Baig, Jeddah published 26 June 2008

Oh cry Jeddah

I whole-heartedly agree with Tariq Al-Maeena (“Open letter to Makkah governor,”June 21) since I have lived in Jeddah for more than 10 years. I know how much needs to be done urgently to improve the condition of the city.

Ali, India published 26 June 2008

Visitors to Kingdom

Please refer to the report, “Sultan outlines Kingdom’s tourism goals” (June 21). It is very heartening to see that Prince Sultan ibn Salman wants to encourage tourism in Saudi Arabia. However it is important that the Ministry of Foreign Affairs issues visas to those wanting to travel to the Kingdom. I am working in one of a government organizations as a researcher. I applied for a visit visa for two of my sons and the wife of elder son.

The authorities issued visas only to my sons and not my daughter-in-law. Now my son does not want to visit Saudi Arabia without his wife and thus the visa issued to him is useless. Authorities must amend the rules to ease the difficulties faced by visitors.

Dr. Abdul Ghani Dalvi, Riyadh published 26 June 2008

Visitors to Kingdom 2

I believe Prince Sultan ibn Salman is the best and most qualified man for this mission. Good luck, dear prince. I hope to see something beyond a boost in local tourism. We need to pay more attention to the needs of our young boys. We must look after them.

Ammar, Riyadh published 26 June 2008

Naguib Mahfouz

I read Lisa Kaaki’s article “Discover Naguib Mahfouz’s literary genius in ‘Cairo Modern’” (June 22). No doubt, Mahfouz’s literary works are touchstones by which other literary works are measured. I really love Mahfouz’s novels and short stories. Thank you so much for publishing such useful articles. Keep up the good work, dear Arab News.

Fayiz Al-Shehri, Jeddah published 26 June 2008

Hijab

This is in reference to the article “The disclosure” (Islam in Perspective). I think more importance needs to be given to the rules of the university rather than the views or wishes of one single lecturer. Scholars unanimously agree that it is preferable for Muslim women to cover their faces. This means it is not compulsory for a woman to cover her face but those who want may do so if they wish.

Nowfia A.R., Dammam published 26 June 2008

Middle East

The Israelis will turn the Middle East into a “ball of fire”, says IAEA Director General Mohamed El-Baradei, if they attack Iranian nuclear sites. In my view the leading Muslim countries and forums such as OIC should openly declare that any attack on a Muslim nation would be unacceptable and would bring harsh sanctions on the aggressor and his allies and would only ruin their economies.

Ali Khan, Jeddah published 26 June 2008

Cancer treatment

This refers to the report, “The cancer in our society” (June 23). Only one MRI machine in the Kingdom? Does this mean the country cares more about money than the health of its citizens? Or is it that there is no system in place to properly care for those who are ill? This is truly disheartening.

Bonnie Connors, UK published 26 June 2008