The East African Monetary Union: Ready or not?
Lecture by Prof. Thomas Kigabo (National Bank of Rwanda)
The East African Community (EAC) is composed of 6 countries: Burundi, Kenya, Rwanda, Tanzania, Uganda and South Sudan. To achieve the objectives of the community, partner states have committed to establishing a customers union, a common market, a monetary union, and a political federation. The protocol on the establishment of the monetary union was signed in 2013 and the launch of a common currency is planned for 2024. This presentation by Prof. Thomas Kigabo assesses, based on Optimum Currency Area (OCA) theory, if EAC countries are ready for a monetary union.
Prof. Thomas Kigabo has a PHD in monetary, financial and international economics from the Université de Lyon 2 in France. He is currently the Chief Economist and Director-General (monetary policy and research) at National Bank of Rwanda, appointed in 2007, and is a Professor in the College of Business and Economics at the University of Rwanda. His has published across various domains of his field of study, including monetary economics, financial economics, development economics and regional integration.
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