Uganda the odd man out as Kenya ratifies monetary union
The states have also set fiscal and monetary convergence targets for headline inflation, fiscal deficit, gross public debt and foreign reserve cover. PHOTO | FILE
Kenya has ratified the East African Monetary Union Protocol, ahead of the December 31 deadline. This leaves Uganda as the only country yet to ratify the protocol.
According to Peter Njoroge, director of economics at Kenya’s Ministry of East African Community, the country has already deposited its ratification instruments with the EAC Secretariat as required by the Treaty.
