5 July 2012

Southern Africa: Single Currency in SADC Depends on Tax Integration

Luanda — The entry into force of a single currency in the Southern African Development Community (SADC) depends largely on a tax integration, political stability and border security in the region, said Wednesday in Luanda the assistant of the executive secretary for integration of regional economic bloc, João Caholo.

According to him, it is planned for 2018 entry of the single currency in Southern Africa, but this requires, in addition to some issues that deserve care, a legal basis and fiscal discipline.

João Caholo said it is an ongoing process, which began recently with the Finance and Investment Protocol - a document that will support the roadmap for achieving the implementation of the single currency.

At that point, the region major effort is focused on trying to bring to the solid political goodwill of the region a complementary instrument to own domestic resources to accomplish what has been a priority for common development.

Copyright © 2012 Angola Press Agency. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 2,000 reports a day from more than 130 news organizations and over 200 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.