East Africa: Regional Bank Governors in Bid to Curb Shocks

14 October 2011

Kampala — With inflation battering East Africa's economies, regional central bank governors have agreed on coordinated policy measures to help calm price volatilities and relax the continued heavy depreciation of the bloc's currencies.

In a joint statement issued during a meeting to discuss the region's economic outlook in Nairobi on Wednesday, the three central bank governors including: Prof Njuguna Ndung'u (Kenya), Prof Benno Ndulu (Tanzania) and Emmanuel Tumusiime Mutebile (Uganda), said the region is being challenged by high food, high fuel prices and the heavy depreciation of respective currencies thus there is need to mitigate coordinated measures that might help to salvage regional economies.

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