East African Community (EAC) central bank governors have announced steady progress towards a single regional currency, maintaining the 2031 target despite implementation challenges.

• Key players include the EAC central bank governors, who met on July 24 to review the roadmap for the East African Monetary Union (EAMU).
• Significant strides have been made in modernizing monetary policy frameworks and strengthening data and risk management systems.
• A notable challenge remains that no EAC member state has yet met all four required macroeconomic convergence criteria.