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The '''African Central Bank''' ('''ACB''') is one of the three financial institutions of the [[African Union]]. Over time, it will take over responsibilities of the [[African Monetary Fund]]. |
The '''African Central Bank''' ('''ACB''') is one of the three financial institutions of the [[African Union]]. Over time, it will take over responsibilities of the [[African Monetary Fund]]. |
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The creation of the ACB, due to be completed by 2028, a roll out pilot project beginning May, 2015 to be supervised by the monetary and insurance group '''ASTAG - African Star Treaty Alliance Group'''. ASTAG comprises Insurance Policies across diverse sectors of socio-economic development. Also includes financial stakeholders and treasury systems operating in Africa and with the rest of the world. Works together with the Regional Central Bank Associations on the Continent. ACB was first agreed upon in the 1991 [[Abuja Treaty]]. The 1999 [[Sirte Declaration]] called for a speeding up of this process with creation by 2020.<ref name="AEM-Creation">{{cite web |
The creation of the ACB, due to be completed by 2028, a roll out pilot project beginning May, 2015 to be supervised by the monetary and insurance group '''ASTAG - African Star Treaty Alliance Group'''. ASTAG comprises Insurance Policies across diverse sectors of socio-economic development. Also includes financial stakeholders and treasury systems operating in Africa and with the rest of the world. Works together with the Regional Central Bank Associations on the Continent. ACB was first agreed upon in the 1991 [[Abuja Treaty]]. The 1999 [[Sirte Declaration]] called for a speeding up of this process with creation by 2020.<ref name="AEM-Creation">{{cite web|author=Paul R. Masson and Heather Milkiewicz |date=Jul 2003 |url=http://www.brookings.edu/papers/2003/07africa_masson.aspx |title=Africa's Economic Morass--Will a Common Currency Help? |work=Brookings Policy Brief Series |accessdate=2009-09-13 |deadurl=yes |archiveurl=https://web.archive.org/web/20100614101114/http://www.brookings.edu/papers/2003/07africa_masson.aspx |archivedate=2010-06-14 |df= }}</ref> |
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When it is fully implemented via [[Pan-African Parliament]] legislation, the ACB will be the sole issuer of the [[Afrando African Revolutionary Dollar (AFD currency)|African Single Currency]], will become the banker of the African Government, will be the banker to Africa's private and public banking institutions, will regulate and supervise the African banking industry, and will set the official interest and [[exchange rates]]; in conjunction with the African Government's administration. |
When it is fully implemented via [[Pan-African Parliament]] legislation, the ACB will be the sole issuer of the [[Afrando African Revolutionary Dollar (AFD currency)|African Single Currency]], will become the banker of the African Government, will be the banker to Africa's private and public banking institutions, will regulate and supervise the African banking industry, and will set the official interest and [[exchange rates]]; in conjunction with the African Government's administration. |
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==References== |
==References== |
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*{{cite web|url=http://www.africarecruit.com/downloads/PARC%5B1%5DFeb07.pdf|date=4 September 2006|title=Pan African remittances conference, February 8th 2007 |accessdate=2015-11-09}} |
*{{cite web|url=http://www.africarecruit.com/downloads/PARC%5B1%5DFeb07.pdf|date=4 September 2006|title=Pan African remittances conference, February 8th 2007 |accessdate=2015-11-09}} |
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*https://web.archive.org/web/20070828225900/http://commentisfree.guardian.co.uk |
*https://web.archive.org/web/20070828225900/http://commentisfree.guardian.co.uk/calestous_juma/2007/07/right_vision_wrong_strategy.html |
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*{{cite web|url=http://www.news.bbc.co.uk/1/hi/business/2223053.stm |archive-url=https://web.archive.org/web/20020905062407/http://news.bbc.co.uk |
*{{cite web|url=http://www.news.bbc.co.uk/1/hi/business/2223053.stm |archive-url=https://web.archive.org/web/20020905062407/http://news.bbc.co.uk/1/hi/business/2223053.stm |archive-date=2002-09-05 |dead-url=yes |title=BBC NEWS | Business | West African central bank robbed |accessdate=2015-11-09 |df= }} |
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*{{cite book|title=West Africa's Security Challenges: Building Peace in a Troubled Region|author1=Adebajo, A.|author2=Rashid, I.O.D.|date=2004|publisher=Lynne Rienner Publishers|isbn=9781588262844|url=https://books.google.co.uk/books?id=9cejA35XvBgC&pg=PA61|page=61|accessdate=2015-11-09}} |
*{{cite book|title=West Africa's Security Challenges: Building Peace in a Troubled Region|author1=Adebajo, A.|author2=Rashid, I.O.D.|date=2004|publisher=Lynne Rienner Publishers|isbn=9781588262844|url=https://books.google.co.uk/books?id=9cejA35XvBgC&pg=PA61|page=61|accessdate=2015-11-09}} |
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*https://web.archive.org/web/20120609070731/http://www.edpsg.org/Documents/Dp14.doc |
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*{{cite book|title=The Wise Advisor: What Every Professional Should Know about Consulting and Counseling|author=Salacuse, J.W.|date=2000|publisher=Praeger|isbn=9780275967260|url=https://books.google.co.uk/books?id=mcYnx7bTYG8C&pg=PA30|page=30|accessdate=2015-11-09}} |
*{{cite book|title=The Wise Advisor: What Every Professional Should Know about Consulting and Counseling|author=Salacuse, J.W.|date=2000|publisher=Praeger|isbn=9780275967260|url=https://books.google.co.uk/books?id=mcYnx7bTYG8C&pg=PA30|page=30|accessdate=2015-11-09}} |
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Revision as of 20:32, 23 May 2017
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The African Central Bank (ACB) is one of the three financial institutions of the African Union. Over time, it will take over responsibilities of the African Monetary Fund.
The creation of the ACB, due to be completed by 2028, a roll out pilot project beginning May, 2015 to be supervised by the monetary and insurance group ASTAG - African Star Treaty Alliance Group. ASTAG comprises Insurance Policies across diverse sectors of socio-economic development. Also includes financial stakeholders and treasury systems operating in Africa and with the rest of the world. Works together with the Regional Central Bank Associations on the Continent. ACB was first agreed upon in the 1991 Abuja Treaty. The 1999 Sirte Declaration called for a speeding up of this process with creation by 2020.[1]
When it is fully implemented via Pan-African Parliament legislation, the ACB will be the sole issuer of the African Single Currency, will become the banker of the African Government, will be the banker to Africa's private and public banking institutions, will regulate and supervise the African banking industry, and will set the official interest and exchange rates; in conjunction with the African Government's administration.
See also
- AFRA (currency)- African Finance Regulatory Authority
- Abuja Treaty
- European Central Bank
- Economic Community of West African States (ECOWAS)
- Euro
- Central African CFA franc
- Amero
- The Common Monetary Area
- Eco (currency)
- Monetary union
Footnotes
- ^ Paul R. Masson and Heather Milkiewicz (Jul 2003). "Africa's Economic Morass--Will a Common Currency Help?". Brookings Policy Brief Series. Archived from the original on 2010-06-14. Retrieved 2009-09-13.
{{cite web}}: Unknown parameter|deadurl=ignored (|url-status=suggested) (help)
References
- "Pan African remittances conference, February 8th 2007" (PDF). 4 September 2006. Retrieved 2015-11-09.
- https://web.archive.org/web/20070828225900/http://commentisfree.guardian.co.uk/calestous_juma/2007/07/right_vision_wrong_strategy.html
- "BBC NEWS | Business | West African central bank robbed". Archived from the original on 2002-09-05. Retrieved 2015-11-09.
{{cite web}}: Unknown parameter|dead-url=ignored (|url-status=suggested) (help) - Adebajo, A.; Rashid, I.O.D. (2004). West Africa's Security Challenges: Building Peace in a Troubled Region. Lynne Rienner Publishers. p. 61. ISBN 9781588262844. Retrieved 2015-11-09.
- https://web.archive.org/web/20120609070731/http://www.edpsg.org/Documents/Dp14.doc
- Salacuse, J.W. (2000). The Wise Advisor: What Every Professional Should Know about Consulting and Counseling. Praeger. p. 30. ISBN 9780275967260. Retrieved 2015-11-09.
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