EAC ministers to discuss regional economy at Arusha meet

Nairobi, Kenya (PANA) - East African Finance Ministers, Central Bank Governors and financial markets executives will discuss recent developments in the financial markets in Europe as well as the regional economy at a meeting in Tanzania next week, the Arusha-based East African Community (EAC) secretariat said Thursday.

The EAC Secretariat is planning to hold the 27-28 Feb. meeting in Arusha, Tanzania, in collaboration with the International Monetary Fund (IMF), the statement said.

“They will discuss subjects such as sustaining economic growth in the region; developments in the Euro zone and the lessons for the EAC as it negotiates a protocol for a monetary union,” the EAC said.

Five EAC countries - Burundi, Kenya, Rwanda, Uganda and Tanzania - have been holding discussions on a  single currency for the region. The discussions cover monetary policy harmonization among the five countries.

EAC Secretary General Richard Sezibera said the conference offers a unique opportunity to discuss how best the region should work to achieve its vision of promoting a secure, competitive and prosperous East Africa.

The high-level conference will offer at least 100 regional and international experts and policy makers a platform to discuss the EAC’s accomplishments to date.

Experts will discuss the benefits of regional integration, relevant international experience, including the Euro zone crisis and the macroeconomic policy challenges going forward, the organisers said.

IMF’s Deputy Managing Director Naoyuki Shinohara, EAC Ministers of Finance, Secretaries to Treasury and Central Bank Governors are expected at the meeting.
-0- PANA AO/SEG 23Feb2012