East Africa inches closer to monetary union

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The East African Community (EAC) is inching closer to full economic and monetary union, but many problem areas remain, according to a recent progress report issued by the EAC.

A "scorecard" of reform progress on free movement of capital, services and goods showed the total number of "non-compliant" areas had fallen from 63 to 59 since the last study, conducted in 2014. All of the six nations that make up the bloc remain "largely non-compliant", said EAC deputy secretary general Jesca Eriyo.

The

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