East African states strike deal over monetary union

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The heads of state of five East African countries have signed a protocol committing to establish a monetary union within the next 10 years.

The countries – Burundi, Kenya, Rwanda, Tanzania and Uganda – have already formed a regional trading bloc, the East African Community (EAC), and established both a customs union and a common market.

The new protocol, signed in Uganda on November 30, seeks to integrate the countries further by establishing a single currency. It outlines the necessary steps th

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