Why the East African Monetary Union goal needs political support
Tanzania, Feb. 3 -- Arusha. The road to an East African single currency is patchy as it is due to the complex nature of the procedures that guide its attainment.
But one impediment, the sovereignty of member countries, risks derailing the process towards the East African Monetary Union (Eamu) project altogether, according to the former EAC deputy Secretary General Enos Bukuku. EAMU is a precondition for the creation of the single currency
Dr Bukuku said a unified monetary system union with a single currency calls for transformation of the current governance structure in the region that would be difficult without a political federation.
"The envisaged political federation should have preceded the Monetary Union protocol," Dr Bukuku told...
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