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African Central Bank

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Title: African Central Bank  
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Subject: African Monetary Union, African Union, Economy of Africa, African Investment Bank, African Monetary Fund
Collection: Banks of the African Union, Central Banks
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African Central Bank

This article is part of a series on the
politics and government of
the African Union

The African Central Bank (ACB) is one of the three financial institutions of the African Union. Over time, it will take over responsibilities of the African Monetary Fund.

The creation of the ACB, due to be completed by 2028, was first agreed upon in the 1991 Abuja Treaty. The 1999 Sirte Declaration called for a speeding up of this process with creation by 2020.[1]

When it is fully implemented via Pan-African Parliament legislation, the ACB will be the sole issuer of the African Single Currency, will become the banker of the African Government, will be the banker to Africa's private and public banking institutions, will regulate and supervise the African banking industry, and will set the official interest and exchange rates; in conjunction with the African Government's administration.

See also

"

Footnotes

  1. ^ Paul R. Masson and Heather Milkiewicz (Jul 2003). "Africa's Economic Morass--Will a Common Currency Help?". Brookings Policy Brief Series. Retrieved 2009-09-13. 

References

  • http://www.africarecruit.com/downloads/PARC%5B1%5DFeb07.pdf
  • http://www.commentisfree.guardian.co.uk/calestous_juma/2007/07/right_vision_wrong_strategy.html
  • http://www.news.bbc.co.uk/1/hi/business/2223053.stm
  • http://www.books.google.com/books?id=9cejA35XvBgC&pg=PA61&lpg=PA61&dq=%22african+central+bank%22&source=web&ots=PwMSRLi7PJ&sig=4CJvZZJ4iMLlYA_B_3q_x02Mb7I
  • http://webcache.googleusercontent.com/search?q=cache:GMkMvmls5YEJ:www.edpsg.org/Documents/Dp14.doc+%22African+Central+Bank%22&hl=en&ct=clnk&cd=10&gl=uk
  • http://www.books.google.com/books?id=mcYnx7bTYG8C&pg=PA30&lpg=PA30&dq=%22african+central+bank%22&source=web&ots=TYDHZysz60&sig=URRdBWI7SM6W0VCpYXzcYVFSRPY


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