Regional leaders should push for single currency

Dear Editor,Mr Gerard Mpyisi’s article, Regional integration still a challenge, published in yesterday’s edition of The New Times, is an interesting one, and should ignite debate on the issue of economic integration.

Monday, January 21, 2013
The president of African Development Bank Donald Kaberuka (left) confers with Central Bank of Kenya governor Njuguna Ndungu2019u during the Kenya Bankers Association luncheon held in Nairobi last Tuesday. Net photo.

Dear Editor,Mr Gerard Mpyisi’s article, Regional integration still a challenge, published in yesterday’s edition of The New Times, is an interesting one, and should ignite debate on the issue of economic integration. Prof. Manasseh Nshuti (a former Rwandan Finance Minister) has recently written a lot on the issue of single currency, and raised many issues, which as students of finance, we had been taught are minimum conditions for realisation of a common currency. Does Dr Donald Kaberuka (the President of the African Development Bank) believe that these minimum conditions, as monetary and fiscal convergence, among others, must be put in place before we can have a common currency? Prof.Nshuti is right, time has not yet come, but our (regional) leaders can ensure this is realised.Kayitakirwa , Muhanga ********************I totally agree with Mr Gerard Mpyisi’s views on the East African community integration process. Regional integration will remain a challenge and may end up not taking us anywhere if some countries do not desist from selfishness or individual interests. EAC has registered slow pace because countries like Tanzania believe that they are not beneficiaries of the project. We need to pool our scarce resources together if we are to forge a brighter future for all Africans.Emmanuel Mulisa , Kicukiro, Kigali