Debt levels that seemed quite manageable at lower yields now look potentially unsustainable to some market participants. In addition, the volatility of market perceptions of credit risks has been contributing to the level of yields. Short-term investors in what are now relatively high-yield bonds face considerable uncertainty about the price of those bonds in the market if they want to sell before maturity.
Following that Summit Directive, Governors of EAC Central Banks met in Kampala, Uganda in January 2008 to map out a strategic framework for fast tracking the establishment of an East African Monetary Union by 2012.