Kigali. Financial experts from the East African Community (EAC) are optimistic that the establishment of the regional monetary union could be realised by next year.
In an interview with Xinhua, Dr Thomas Kigabo, chief economist of National Bank of Rwanda and chief Rwandan negotiator, pointed out that the remaining period is enough for the single currency to be achieved within the framework of the East African Monetary Union (Eamu).
Kigabo was speaking at the fourth meeting of the EAC's High Level Task Force (HLTF) which started on Tuesday in Kigali, Rwanda. The meeting has attracted regional financial experts to negotiate the establishment of the bloc's monetary union.
The HLTF was inaugurated by EAC to negotiate the protocol to establish the Eamu, which is the third stage of the EAC integration process. The EAC integration process timetable shows that Eamu is supposed to be effective by end of 2012 following the EAC common market protocol that was effected on July 1, 2010 and the customs union in 2005.
Kigabo was speaking at the fourth meeting of the EAC's High Level Task Force (HLTF) which started on Tuesday in Kigali, Rwanda. The meeting has attracted regional financial experts to negotiate the establishment of the bloc's monetary union.
The HLTF was inaugurated by EAC to negotiate the protocol to establish the Eamu, which is the third stage of the EAC integration process. The EAC integration process timetable shows that Eamu is supposed to be effective by end of 2012 following the EAC common market protocol that was effected on July 1, 2010 and the customs union in 2005.
Source The Citzen
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