Lagarde warns of single currency ‘challenge’ in East Africa


Christine Lagarde today encouraged East Africa's leaders to "draw upon the experience and lessons learned" of other regional blocs that have made the turbulent transition to currency unions in the past.

The East African Community (EAC) comprises Burundi, Kenya, Rwanda, Tanzania and Uganda – five countries that together have a population of around 140 million and a combined GDP of more than $100 billion.

Heads of state from each country signed a monetary union protocol in November, paving the way

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