CMA commission meeting in Windhoek

THE Common Monetary Area (CMA) Commission is meeting in Windhoek today.

The CMA is a union of South Africa, Namibia, Lesotho and Swaziland. Formerly known as the Rand Monetary Area (RMA), the CMA has been in existence since 1974 and is governed by the Multilateral Monetary Agreement of 1974 as amended in 1986.The NLS (Namibia, Lesotho and Swaziland) countries also have separate bilateral monetary agreements with South Africa.This is the 29th meeting of the commission.The commission is scheduled to meet until tomorrow.At the end of the last commission meeting, also held in Windhoek in March 2000, Bank of Namibia Governor Tom Alweendo said: “In my opinion, Namibia and the other smaller CMA countries would benefit from an evolution of the CMA toward a full monetary union.This would require a closer co-ordination of monetary and economic policies.”Formerly known as the Rand Monetary Area (RMA), the CMA has been in existence since 1974 and is governed by the Multilateral Monetary Agreement of 1974 as amended in 1986.The NLS (Namibia, Lesotho and Swaziland) countries also have separate bilateral monetary agreements with South Africa.This is the 29th meeting of the commission.The commission is scheduled to meet until tomorrow.At the end of the last commission meeting, also held in Windhoek in March 2000, Bank of Namibia Governor Tom Alweendo said: “In my opinion, Namibia and the other smaller CMA countries would benefit from an evolution of the CMA toward a full monetary union.This would require a closer co-ordination of monetary and economic policies.”

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