Global Insider: EAC Monetary Union

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The members of the East African Community recently agreed to fast-track the economic measures necessary to meet their goal of creating a monetary union in 2012. In an email interview Steven Buigut, an expert in African monetary unions at the American University in Dubai, discussed the proposed EAC monetary union. WPR: What are the driving forces behind the creation of the East African Community Monetary Union? Steven Buigut: The East African Community (EAC) is a regional organization comprised of five countries: Kenya, Uganda, Tanzania, Rwanda and Burundi. The first three countries previously operated a currency board arrangement backed by the […]

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