East African Community advances monetary union and UN partnerships

The East African Community (EAC) is advancing efforts to establish the East African Monetary Union (EAMU) by strengthening fiscal and monetary policy coordination. During meetings in Arusha, Tanzania, officials focused on improving budget credibility, harmonizing tax policies, and creating mechanisms for joint economic monitoring and accountability.

Dr. Albert Musisi, Commissioner at Uganda’s Ministry of Finance, Planning and Economic Development, emphasized the need for faster implementation of the EAMU Roadmap to meet the 2031 target for a single regional currency. The Committee on Fiscal Affairs also reviewed public financial management reforms, including improvements in forecasting and expenditure controls to prevent the accumulation of arrears.

In a separate development, the EAC has agreed with four United Nations agencies—UNAIDS, UNFPA, UNICEF, and the WHO—to establish a structured partnership framework. This framework aims to align regional priorities with practical interventions to improve health, livelihoods, and wellbeing across East Africa. EAC Secretary General Ambassador Stephen Mbundi directed that preparations for a formal Memorandum of Understanding be fast-tracked, with completion expected within three months.