In preparing this framework we have the advice and challenges that His Excellency Dr. Jakaya Mrisho Kikwete, the President of United Republic of Tanzania raised in Arusha in November 2012 in the Conference for Financial Institutions and in Dar es Salaam in July 2013 at the Smart Partnership Global Dialogue.
Countries joining at a later stage are basically subject to the same rules. But the exchange rate mechanism which will take effect as from 1 January 1999 differs from that currently in force. In my opinion, ERM2 will replace ERM1. But legally, it is not that simple, and my view is not shared by everyone.