Central Banking

Establishment of Southern African currency union delayed: Sarb’s Mminele

daniel-mminele

Plans to adopt a single currency in the Southern African Development Community (SADC) will be postponed in order to review its implementation strategy in light of events in Europe, Daniel Mminele, the deputy governor of the South African Reserve Bank, said on Wednesday.

"Events of the recent past in Europe have prompted SADC to examine more carefully the criteria for admittance to the monetary union. This together with the time being taken for the establishment of control measures and procedures

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