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.

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