It also means accepting without preconditions the free movement of labour throughout the EAC: for example Kenyans should be able to live and work in Uganda without restrictions and without having to pay for work or residency permits. Finally, it means allowing the free movement of capital across borders within the EAC.
Some of you may be surprised by the choice of a topic. It is true that “Prospects for growth and employment” can be regarded as a topic that does not fall within the primary responsibilities of the central bank. Conventional wisdom strongly suggests that monetary policy in itself can do little to generate growth and employment.