Regional Monetary Union on course

Bujumbura - The head of the Rwandan delegation in negotiations on the East African Monetary Union (EAMU), Dr. Thomas Kigabo, yesterday, said that efforts to have a regional single currency were progressing.The second meeting of the EAC high level task force to negotiate the EAMU Protocol is taking place in Bujumbura, Burundi.

Bujumbura - The head of the Rwandan delegation in negotiations on the East African Monetary Union (EAMU), Dr. Thomas Kigabo, yesterday, said that efforts to have a regional single currency were progressing.

The second meeting of the EAC high level task force to negotiate the EAMU Protocol is taking place in Bujumbura, Burundi.

“In our meeting, we should be able to come up with a final document after getting all inputs from various working groups,” Kigabo said by phone from Bujumbura yesterday.

The taskforce created four working groups on, macro-economic policy, statistics, financial sector; and payment and settlement systems.

 “We are doing this review from a regional perspective and not individual partner states,” he added.

The first meeting of the team held in Arusha, Tanzania, in January, developed a roadmap of how the negotiations would be undertaken.

The meeting is refining the matrices for each working group including the development of the matrix for the payment and settlement systems working group.

The meeting is also expected to consider, review and refine the draft terms of reference on the EAC macro economic convergence criteria.

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