Posted by: africanpressorganization | 12 December 2008

Cameroon / African economists on regional integration meet in Yaounde



Cameroon / African economists on regional integration meet in Yaounde


YAOUNDE, Cameroun, December 12, 2008/African Press Organization (APO)/ — African Economists will on Monday 15 to Wednesday 17 December 2008, converge in Yaoundé, capital city of the Republic of Cameroon, within the framework of their First Congress of African Economists on Regional Integration.


Organized by the African Union Commission (AUC) in collaboration with the Regional Economic Communities (RECs), the Association of African Universities (AAU) and the African Economists in the continent and from the Diaspora, the congress would hold under the theme: “Towards the Creation of a Single African Currency: Review of the Creation of Single African Currency. Which optimal approach to be adopted to accelerate the creation of the unique continental currency?”.


The objective of the First Congress of African Economists on Regional Integration is to review the economic policies practiced in each REC (particularly the monetary policy) within the framework of the harmonization of the monetary policy. This Congress also aims at showing the best and efficient approach to achieve the common currency in Africa.


Participants at the Congress will brainstorm on the advantages and inconveniences of the use of a single currency within each REC; identify the optimal approach to establish the African Central Bank; and make recommendations to the decision organs of the AU, amongst others.


Meanwhile, the recommendations of the Congress will be submitted to the Conference of African Ministers of Economy and Finance for consideration and adoption. Subsequently, they will be submitted to the Assembly of Heads of State and Government for consideration and adoption of political decisions for implementation.


The building of the African Economic Community is currently one of the major concerns of the African Union Commission (AUC). In order to succeed in this noble and historic enterprise, the authorities of the Pan-African organization have set many initiatives in motion, among which are: the rationalization and consolidation of the Regional Economic Communities (RECs); the acceleration of the establishment of the institutions provided for in the Constitutive Act of the African Union, including the African Central Bank with the mission of minting the single African currency, the African Monetary Fund and the African Investment Bank.

  Participants at the congress will include African academicians and researchers; Academicians and researchers of the African Diaspora; the Pan African academicians and researchers; National and regional association of economists; representatives of the Regional Economic Communities (RECs); Association of African Universities; African Development Bank (ADB); Economic Commission for Africa (ECA); the African private sector; the Association of African Central Bank Governors; the African development partners and the African Union Commission (AUC).





SOURCE : African Union Commission (AUC)


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