The Deputy Governor Bank of Uganda, Mr Louis Kasekende, has advised policy makers to strengthen regional integration to pave way for East African Monetary Union and subsequently the single currency.
The East African Community (EAC) countries have signed a protocol committing them to introducing the East African Monetary Union (EAMU) in 2024.
The economic rationale for monetary union is to facilitate transactions within an integrated economic area, eliminate risks which might arise from unforeseen currency movements and the costs of exchanging currencies in order to complete transactions. Read more. Source | Daily Monitor