EAC currency target faces headwinds, say regulators

EAC member states flags. FILE PHOTO | NMG

The introduction of a single currency for the East Africa region has been met by headwinds and the 2024 target may not be met, Central Banks have said.

A committee drawn from the six Central Banks from the East African Community (EAC) said in a joint communique after a virtual meeting on Friday that there have been delays in realising targets set out in the East African Monetary Union (EAMU) roadmap.

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