EAC prioritizes monetary union amid delays
The East African Community Secretary General, Veronica Nduva, says the implementation of the monetary union for the regional bloc is a top priority despite the delay. Nduva justified that the 66 billion-dollar growth in loans advanced by the regional banks in one year ending in June 2024 signifies the need for currency convergence. Delays in the establishment of key institutions and frameworks, as well as the attainment of the set measures for realization by the partner states, have stood in the way of the monetary union.
