Monetary Union talks kick off in Kampala

KAMPALA - A consultative meeting on the establishment of the East African Monetary Union is expected to kick off today in Kampala, as part of the campaign that was launched by the bloc’s secretariat last week. The EAC Secretariat launched the series of consultative meetings that will run in all the five EAC partner states to discuss the Monetary Union which will lead to a creation of a common currency in all the states. The meeting will attract various stakeholders who include Ministries of Finance, East African Affairs, Trade and Industry, capital markets authorities, bureaus of statistics and bankers’ associations among others. The two-day meeting aims at discussing the preliminary findings of the ongoing studies and to finalise the assessment of the preparedness of the partner states for the monetary union. In an interview with The New Times, Alloys Mutabingwa the Deputy Secretary General of the EAC secretariat said the EAC monetary union is an ambitious goal but possible to achieve. According to Mutabingwa, similar consultative meetings have already taken place in Tanzania and Kenya. In Rwanda the consultative meeting on the EAC Monetary Union will set off on September 17 and 18. Ends

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Monetary Union talks kick off in Kampala