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Mariya L

East African trade bloc approves monetary union deal - 1 views

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    This article talks about the new monetary union between Kenya, Tanzania, Uganda, Rwanda and Burundi. Leaders of the countries have recently signed an agreement with the expectation that it will to boost the economy through the change of currency. That change would not only encourage the trade between the countries, but also would attract more investors. Kitariko,chief executive officer at African Alliance Uganda, said, however, that achieving a successful monetary union would require convergence of the union's economies, hinting that some challenges lay ahead.
Tisha D

East African Trade Bloc approves monetary union - 2 views

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    This article shows how there are regional trade barriers within Africa.
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    The leaders of five East African countries signed a protocol on Saturday laying the groundwork for a monetary union within 10 years that they expect will expand regional trade.
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    This article is about the East African Community (EAC) choosing to pass a monetary union deal. The trade comprising of Kenya, Rwanda, Uganda, Burundi and Tanzania has decided to adopt a single currency for all the five countries. They plan to converge their currencies and establish a central bank, helping them to harmonize fiscal policies and increase commerce. Kenyatta, the leader of the biggest economy in the east Africa say that 'Businesses will find more freedom to trade and invest more widely, and foreign investors will find additional irresistible reasons to pitch tent in our region'.
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