KIGALI - Rwanda’s move to join other East African Community partner states towards the establishment of the EAC Monetary Union is on the right track. This was revealed yesterday by Pascal Ngendahimana the Professional in charge of Trade, Finance, Investment and Economic Affairs in the Ministry of EAC and one of the Rwanda’s EAC Monetary Union High Level Task Force (HLTF) during an Interview. “Rwanda’s progress towards achieving EAC monetary union is on the right track foristance the HLTF is preparing to start negotiations this month,” he said. He added that, the EAC monetary union impact assessment study on Rwanda’s economy is going to be carried out soon since the consultant to carry out the study has been identified. “We are planning to hold consultations with different sectors of the economy so that we get their views regarding one single currency within the EAC bloc, “he explained. He stressed that the consultations will target a broad spectrum of stakeholders and to include among others; different Ministries, Agencies, Private sector, civil society, Academia, Parliamentarians; the Private Sector, the Civil Society and several financial institutions. Ngendahimana noted that the efforts being undertaken towards negotiating for the single currency are proceeding expeditiously. Last year A Cabinet meeting chaired by President Paul Kagame appointed a 13-person HLTF on the EAC Monetary Union. The team will be lead by a steering committee chaired by the Ministers of Finance and Economic Planning, Commerce Trade and Industries, EAC Affairs, Justice and the Central bank Governor. The EAC has a Customs Union and Common Market Protocol in place, while a Monetary Union is planned for 2012 and eventually a political federation in 2015. Ends
