SETTING A MONETARY UNION

SETTING A MONETARY UNION

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Central bank governors from the five East Africa member states have applauded the good progress made in harmonizing the relevant policies by the individual member states.

During an EAC Monetary affairs committee meeting held in Kampala, the governors have warned the risk of isolating the  their countries’ financial systems  from the global financial system is likely to adversely affect capital flows, trade and investment, exchange rates in the region.

They are now discussing further how on they can fast track the process of establishing the monetary union by 2024.

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