Rwandan governor: East African Monetary Union progressing ‘as planned’

John Rwangombwa admits there is ‘still a long way to go’

National Bank of Rwanda

National Bank of Rwanda governor John Rwangombwa is "comfortable" with the progress being made towards the East African Monetary Union that Burundi, Kenya, Rwanda, Tanzania and Uganda have committed to establishing by 2024, but he accepts there is "a long way to go".

In November, the five heads of state agreed to harmonise their fiscal and monetary policies over the next decade, and establish the institutions necessary to sustain a single currency area.

There has been obvious progress towards

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