Eritrea: Recent Economic Developments

Author: International Monetary Fund

Volume/Issue: Volume 1996 Issue 066

Publication date: August 1996

ISBN: 9781451811926

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Topics covered in this book

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Banks and Banking , Exports and Imports , Money and Monetary Policy , ISCR , CR , government , enterprise , The Government , government stance , growth strategy , balance of payments , monetary policy , foreign exchange , exchange rate , private sector , expenditure priority , banking system , price control , state farm , government institution , broad money , Imports , Exports , Credit , Commercial banks , Europe , Sub-Saharan Africa , Africa

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Summary

This paper describes economic developments and reforms in Eritrea during the 1990s. The paper highlights that the government’s main economic objectives were to promote high and sustainable economic growth and thereby increase per capita income, create employment opportunities, and attain a sustainable external position over the medium term. The paper discusses the developments in domestic production, prices, and the structural reforms undertaken in Eritrea. Developments in public sector finances are covered, and monetary developments and financial sector reform efforts are also summarized.