Kenya, Tanzania, Burundi, Rwanda and Uganda currencies. Mistakes and a bad experience with a single currency in the European Union have seen EAC take a cautious approach. FILE PHOTO | NMG
EAC member states are set to start discussions on revising the timelines for the start of the single currency regime, after realising that it would be difficult to set up the necessary institutions and achieve the set macroeconomic benchmarks with only five years to the 2024 deadline.
Bank of Uganda Governor. Emmanuel Tumusiime-Mutebile said several challenges stand in the way of fully implementing the East African Monetary Union Protocol.
