African Monetary Fund
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The Africa Monetary Fund is a planned
African Union The African Union (AU) is a continental union of 55 member states located on the continent of Africa. The AU was announced in the Sirte Declaration in Sirte, Libya, on 9 September 1999, calling for the establishment of the African Union. The b ...
financial institution, though in time its responsibilities will be transferred to the African Central Bank. This institution is one of the three financial institutions of the African Union. It will be based in
Yaoundé Yaoundé (; , ) is the Capital city, capital city of Cameroon. It has a population of more than 2.8 million which makes it the second-largest city in the country after the port city Douala. It lies in the Centre Region (Cameroon), Centre Region o ...
,
Cameroon Cameroon, officially the Republic of Cameroon, is a country in Central Africa. It shares boundaries with Nigeria to the west and north, Chad to the northeast, the Central African Republic to the east, and Equatorial Guinea, Gabon, and the R ...
.


Proposed shareholding

The bank envisages to have a paid up capital of $23 billion.


References


External links


Draft Statute of the African Monetary FundAU discussions on African Monetary Fund
Organs of the African Union Banks of the African Union {{Africa-bank-stub