Rwanda : Realization of EAC common currency to be fast-tracked

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The long-touted single currency among member states of the East African Community (EAC) regional bloc may well become a reality in the foreseeable future.

Speaking to reporters in Arusha, Tanzania, the EAC Deputy Secretary General in charge of Planning and Infrastructure, Enos Bukuku, urged all partner state delegates to “do their utmost” to build consensus quickly.

Mr. Bukuku was speaking at the opening of a marathon six-day talks among member-state delegates in Arusha, northern Tanzania, aimed at resolving outstanding issues and to move with greater speed to ensure an agreement is reached before the end of this year, as per a statement by the bloc’s secretariat.

The Deputy Secretary General noted the negotiations, now in their eighth round, could not afford to defer any more matters if the EAC was to achieve its 2012 target for concluding the Monetary Union Protocol.

It is envisaged that the Monetary Union will deepen the integration of East African economies and, in doing so, enhance the benefits which can be derived from the EAC Common Market.

 

 

 

 

 

 

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Mr. Sina is the Managing Partner & Chief Editor of RwandaEye. After completing his post-graduation from the Faculty of Economics and Management, National University of Rwanda,he worked in various consulting capacities for equity and business firms in Kigali. A shrewd strategist, he is an Economic Pundit, entrepreneur and Investment Banker.

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