Abuja Treaty
5003330
225945772
2008-07-16T03:45:51Z
Bunnyhop11
7345738
/* The African Central Bank */
{{portal|Africa}}
{{Politics of the African Union mini}}
The '''Abuja Treaty''' is a Pan-African international agreement signed on June 3rd [[1991]] in [[Abuja]], [[Nigeria]]<ref>[http://www.uneca.org/itca/ariportal/abuja.htm Abuja Treaty<!-- Bot generated title -->]</ref>. The treaty created the [[African Economic Community]].
==The African Central Bank==
The '''[[African Central Bank]]''' (ACB) is one of the three financial institutions of the [[African Union]]. It will over time take over responsibilities of the [[African Monetary Fund]].
The creation of the ACB, to be completed by [[2028]] 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 | year =Jul, 2003 | url=http://www.brookings.edu/comm/policybriefs/pb121.htm | title =Africa's Economic Morass--Will a Common Currency Help? | work = The Digital Collegian | accessdate =2006-04-22 }}</ref>.
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.
==The concept of the 'Afro' currency==
The '''Afro''' is the proposed official currency of the [[African Union]]{{Verify source|date=April 2008}}.
The '''Abuja Treaty''' is an international agreement signed on June 3rd [[1991]] in [[Abuja]], [[Nigeria]]. {{Fact|date=February 2008}} The treaty created the [[African Economic Community]] and will cover most of [[Afrozone]] {{Verify source|date=April 2008}}.
The current timeline established by the [[Abuja Treaty]] calls for the afro to be instituted by the [[African Central Bank]] by [[2028]]. {{Fact|date=February 2008}}
[[Egypt]], [[Swaziland]], and [[Lesotho]] have logged reservations over the precise date of monetary union and have requested a 2 to 3 year delay. ''(According to the BBC on January the 3rd, 2008.).'' The [[Seychelles]] may not join as a result of economic fears and may, like [[Cape Verde]], attempt to join the [[euro]] at a later date.
==Signatories==
Signatories to the treaty were:
* [[Algeria]]
* [[Angola]]
* [[Benin]]
* [[Botswana]]
* [[Burkina Faso]]
* [[Burundi]]
* [[Cameroon]]
* [[Cape Verde]]
* [[Central African Republic]]
* [[The Comoros]]
* [[Republic of Congo]]
* [[Cote d'lvoire]]
* [[Djibouti]]
* [[Egypt]]
* [[Ethiopia]]
* [[Equatorial Guinea]]
* [[Gabon]]
* [[The Gambia]]
* [[Ghana]]
* [[Guinea]]
* [[Guinea Bissau]]
* [[Kenya]]
* [[Lesotho]]
* [[Liberia]]
* [[Libya]]
* [[Madagascar]]
* [[Malawi]]
* [[Mali]]
* [[Mauritania]]
* [[Mauritius]]
* [[Mozambique]]
* [[Namibia]]
* [[Niger]]
* [[Nigeria]]
* [[Rwanda]]
* [[Sahrawi]]
* [[Sao Tome and Principe]]
* [[Senegal]]
* [[Seychelles]]
* [[Sierra Leone]]
* [[Somalia]]
* [[Sudan]]
* [[Swaziland]]
* [[Tanzania]]
* [[Tchad]]
* [[Togo]]
* [[Tunisia]]
* [[Uganda]]
* [[Zaire]]
* [[Zambia]]
* [[Zimbabwe]]
==See also==
* [[GAFTA]]
* [[ECOWAS]]
* [[AMU]]
* [[EURO]]
* [[Afro (currency)]]
* [[CAF]]
* [[North American currency union|Amero]]
* [[African Central Bank]]
* [[Eco (currency)|Eco]]
* [[Khaleeji]]
* [[List of trade blocs]]
==References==
<references/>
==External links==
* [http://www.uneca.org/itca/ariportal/abuja.htm Text of the Abuja Treaty] - from the [[Economic Commission for Africa]]
* Dr Karis Muller, [[Australian National University]]: [http://www.humanitas.edu.pl/hjes/1vol_issue1/09_karis_muller.pdf The Euro And African Monetary Integration], in [http://www.humanitas.edu.pl/hjes/ Humanitas Journal of European Studies], Volume I, Issue 1, November 2007
* [http://portal.unesco.org/culture/en/ev.php-URL_ID=29133&URL_DO=DO_TOPIC&URL_SECTION=201.html The Afro, a prototype currency for all Africa].
* http://www.babylon.com/definition/Afro_(currency)/English
* http://acronyms.thefreedictionary.com/Afro
* http://books.google.com/books?id=M8Tuw19yhWMC&pg=PA253&lpg=PA253&dq=%22african+central+bank%22&source=web&ots=WCF7x165IC&sig=41Fy-DLGxY44RUin2Lnx93n7au8
* http://www.ossrea.net/publications/newsletter/feb06/article6.htm
* http://commentisfree.guardian.co.uk/calestous_juma/2007/07/right_vision_wrong_strategy.html
* http://news.bbc.co.uk/1/hi/business/2223053.stm
* http://books.google.com/books?id=9cejA35XvBgC&pg=PA61&lpg=PA61&dq=%22african+central+bank%22&source=web&ots=PwMSRLi7PJ&sig=4CJvZZJ4iMLlYA_B_3q_x02Mb7I
* http://64.233.183.104/search?q=cache:GMkMvmls5YEJ:www.edpsg.org/Documents/Dp14.doc+%22African+Central+Bank%22&hl=en&ct=clnk&cd=10&gl=uk
* http://books.google.com/books?id=mcYnx7bTYG8C&pg=PA30&lpg=PA30&dq=%22african+central+bank%22&source=web&ots=TYDHZysz60&sig=URRdBWI7SM6W0VCpYXzcYVFSRPY
==Portals==
{{portal|Africa}}
{{portal|South Africa}}
{{portal|Egypt}}
[[Category:Treaties]]
[[Category:Monetary unions]]
[[Category:Currencies of Africa]]
[[Category:Economy of the African Union]]
[[Category:Proposed currencies]]
[[Category:Banks of the African Union]]
[[Category:Central banks]]
[[ca:Banc Central AfricĂ ]]
[[ca:Afro]]
[[pt:Afro (moeda)]]