Money Markets
EAC secretariat set to tackle negative perceptions
From left: President Amani Abeid Karume, President Mwai Kibaki, President Paul Kagame, President Pierre Nkurunziza, Uganda’s Deputy Prime Minister Eriya Kategaya and East African Community Secretay-General Juma Mwapachu at an EAC Investment Conference in Nairobi recently. /Stephen Mudiari
Posted Monday, September 7 2009 at 00:00
Partner states’ central banks are also expected to play a crucial role in spearheading the consultations.
The consultations target a broad spectrum of stakeholders including national central banks, capital markets authorities, bureaus of statistics, bankers associations, academia, the private sector and the civil society, as well as ministries of finance, EAC affairs, planning, trade and industry.
The EAC Secretariat in collaboration with the ECB undertook a comprehensive study on the proposed EAC monetary union and the consultative meetings are intended to discuss the preliminary findings of the ongoing study.
This is in line with a consultancy agreement entered into with regard to the preparation of the study. During the consultations, various stakeholders in the process towards a monetary union will be educated about the issues likely to arise during the process.
They will be introduced to the scope of the study that is slated for finalisation and submission by the ECB to EAC in January 2010.
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