Addis Ababa / Khartoum - The African Union (AU) called on member states to sign and ratify African Monetary Fund (AMF), aimed at facilitating the growth of intra-regional trade.
The African Union's Commissioner for Social Affairs, Amira Al-Fadil said in a meeting of African finance and economy ministers, that one of the most important work of the African monetary fund is to facilitate the growth of intra-trade and settlement of financial payments to the countries of the continent, and encourage capital flows among member countries, adding that the objective of the fund is to strengthen the African economy, through trade exchange and cooperation and joint action among countries.
She told Sudan Vision that the fund, based in Cameroon, is one of the three institutions stipulated in the African Union Treaty to establish an African economic community, namely the Central Bank and the African Investment Bank, adding that the African ministers discussed, the Cameroonian capital, the draft treaty of establishing the African Monetary Fund, and the laws governing it, and ratified the treaty despite reservations made by some countries.