The East African Monetary Institute (EAMI) is seen as an establishment that is vital to implementing a single currency regime. monetaryunion cbdc
The East African Community will decide during the course of the year 2023 when and where it will locate the envisioned regional central bank, the regional intergovernmental organization’s Peter Mathuki has reportedly said. The setting up of the regional central bank is expected to help the EAC achieve its goal of attaining a single currency regime in three years.
According to Peter Mathuki, the EAC secretary general, the organization’s council of ministers is expected to deliberate on the location of the regional central bank. “The EAMI will be in place this year in what will allow us to harmonize member states’ fiscal and monetary policies, then in about three years we will have a common currency in place,” Mathuki reportedly said.
Once the regional currency is implemented, the EAC will move closer to its objective of enhanced movement of businesses and persons within the region. This, in turn, will ostensibly boost intra-regional trade, which stood at $10.17 billion by September 2022.by Bitcoin.com News, the EAC, which consists of seven African countries, hopes to have a single currency in place by 2024.
Meanwhile, in addition to helping to ease the movement of businesses and persons within the region, the EAC leadership has also held discussions on how the organization can eliminate non-tariff trade barriers. As noted in the report, a total of 257 non-tariff barriers have been solved since 2007.Tags in this story
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
East Bay man faces arraignment for second alleged homicide in Solano CountyA 51-year-old Martinez man, who is scheduled for a jury trial for a fatal April shooting, faces jail arraignment in Solano County Superior Court for a second murder he allegedly committed last mont…
Les mer »
Sidney Box's family praise community after 93-year-old's deathEmergency services and members of the public helped in a four-day search for Sidney Box.
Les mer »
La Jolla community center builds a social hub for seniorsAt Lawrence Family Jewish Community Center, older adults can take classes, exercise and enjoy a variety of organized activities
Les mer »
Two Men Climb Tree as Otay River Rises in Jamul, East San Diego CountyDespite all the warnings, Cal Fire and local fire departments are busy pulling some people from rising water all over San Diego County
Les mer »
Landslide Danger in East Bay Hills Prompts Evacuations, WarningsAbout 10 homes have been evacuated due to a landslide in the Berkeley Hills on Monday morning and residents of nearby neighborhoods have been warned to prepare to leave quickly if needed, fire officials said.
Les mer »