By Zephania Ubwani
Arusha — The East
African Community (EAC) has launched new statistics guidelines intended
to ...
boost the roadmap to a regional monetary union. The guidelines would
assist the partner states to compile good quality and comparable fiscal
statistics with major focus on government finance and public sector
debts. Officiating at the launch in Arusha at the weekend, EAC deputy
secretary general Steven Mlote echoed the strong fiscal coordination as
underpinned by the Monetary Union Protocol. "Fiscal coordination
requires that the partner states' macro-economic environment converge
based on an agree convergence criteria", he said during the launch at an
Arusha hotel.
The new guidelines
will apply to five of the six EAC member countries; Tanzania, Uganda,
Kenya, Rwanda and South Sudan. Burundi is still tied to a similar system
for French speaking countries.
The guidelines have
been developed with the technical support of the International Monetary
Fund (IMF) under its Authority for Expenditure (AfE), a type of
budgeting.
The new system
would assist compilation of fiscal and public debt data "in the EAC
regional context", remarked Mr. Mlote, who also the acting EAC deputy SG
for Finance and Administration.
Fiscal statistics
prepared using similar compilation practices will assist government
officials in the region with key tools "to compile good quality and
comparable fiscal statistics."
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