Central banks raise doubts on East Africa single currency by 2024
East African central banks have cast a shadow of doubt over the proposed implementation of a single currency regime by the year 2024. PHOTO | FILE | NMG
East African central banks have cast a shadow of doubt over the proposed implementation of a single currency regime by the year 2024, citing delays by member countries in realising targets set out in the Monetary Union roadmap.
The single currency regime is expected to eliminate transaction costs of exchanging currencies and remove exchange rate volatility in cross-border trading activities.
