East African states clash over location of regional central bank
‘Verification exercise’ gave Tanzania highest score, prompting Uganda and Kenya to object
The member states of the East African Community are at odds over the future home of their common central bank, regional media report.
The dispute arose after a report named Tanzania, the EAC’s second-largest economy, as the best host of the proposed East African Monetary Institute (EAMI). Two of the community’s other members, Uganda and Kenya, rejected the report’s conclusions.
Kenya complained that the ‘verification exercise’ showed “a clear bias” against it. Uganda wanted the EAC’s council
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