The Africa Monetary Fund is a planned

African Union The African Union (AU) is a continental union consisting 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 Africa ...

financial institution, though in time its responsibilities will be transferred to the

African Central Bank The African Central Bank (ACB) is one of the original five financial institutions and specialized agencies of the African Union. Over time, it will take over responsibilities of the African Monetary Fund. Its proposed headquarter is in Abuja (Ni ...

. This institution is one of the three financial institutions of the future African Union. It will be based in

Yaoundé Yaoundé (; , ) is the capital of Cameroon and, with a population of more than 2.8 million, the second-largest city in the country after the port city Douala. It lies in the Centre Region of the nation at an elevation of about 750 metres (2,50 ...

Cameroon Cameroon (; french: Cameroun, ff, Kamerun), officially the Republic of Cameroon (french: République du Cameroun, links=no), is a country in west-central Africa. It is bordered by Nigeria to the west and north; Chad to the northeast; the ...

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