Toward a monetary union in the East African Community : asymmetric shocks, exchange rates, and risk-sharing mechanisms / Paulo Drummond ... [et al.].

Washington, D.C. : International Monetary Fund, 2015.

vii, 56 p. : ill. (some col.) ; 28 cm.

This paper examines how susceptible East African Community (EAC) economies are to asymmetric shocks, assesses the value of the exchange rate as a shock absorber for these countries, and reviews adjustment mechanisms that would help ensure a successful experience under a common currency. The report draws on analysis of recent experiences and examines likely future changes in the EAC economies.