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Commodities Briefing - Categorized | Currencies more

Don’t rush to single currency, experts warn

Posted on 08 November 2011

The deadline for the East Africa countries to adopt monetary union, set for 2012, might be extended, if conditions for establishment of single currency in the region are not met.
The permanent secretary in the ministry of East Africa Cooperation, Dr Stergomena Tax Bamwenda, said the criteria such as budget thesis, inflation rate, foreign exchange reserve, government debts and exchange rates among the EAC member countries must be observed before they commit themselves to single current arrangement………………………………………..Full Article: Source


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