Recapitalizing and enhancing the capacity of the Eritrean Investment and Development Bank will be critical. BY EDIRISA NSEERA | THE AFRICAN DEVELOPMENT BANK Eritrea reported its first case of COVID–19 on 21 March 2020, and total cumulative cases stood at 39 by 7 May, with 30 recoveries and no deaths. To contain the spread of […]
Continue Reading
BY AFRICAN DEVELOPMENT BANK Eritrea’s economy slowed more sharply than expected due to dwindling economic activities and poor weather conditions that adversely affected agricultural productivity. Real GDP growth declined to an estimated 3.4% in 2017, from 3.8% in 2016, and is projected to remain between 3.7% and 3.8% over the medium term.
Continue Reading
By Dr. Fikrejesus Amahazion, According to the recently published Global Economic Prospects, a World Bank Group flagship report, the year 2016 was marked by stagnant global trade, subdued investment, and heightened policy uncertainty. For 2017, a subdued recovery is expected, with receding obstacles to activity in commodity exporters and solid domestic demand in commodity importers. […]
Continue Reading
Criticizing Eritrea for absence of free market economy is like tying a boxer’s hand behind his back, throwing him into the ring, and blaming him for losing. By George F Tesfa, Although each of these countries has a unique path of development from their founding, the political ideologies of their founding fathers are similar, to […]
Continue Reading
By Mary Harper | for BBC World Service News, A “go it alone” culture has long been central to Eritrea, including its economy. It is slowly opening up to foreign investment, but recent policies, especially a currency reform, mean many people are now struggling in what was already one of the poorest countries on earth. […]
Continue Reading
By African Economic Outlook, In the 22 years since independence in 1993, the Government of the State of Eritrea (GoSE) has prioritized investments in infrastructure (communication networks, energy, and water facilities); agriculture (mainly for food security); marine resources; social and other services; and manufacturing. In 2016, GoSE priorities are human-resource development; investment in machinery and […]
Continue Reading
By Edmund Blair | for Reuters, Australia mining group Danakali Ltd has applied to Eritrea for a mining licence for its Colluli Potash Project, which is expected to start production in 2019, the company’s chief executive said. Eritrea, which became independent from Ethiopia in 1991 after years of fighting, wants to establish a mining industry […]
Continue Reading
By Mark Anderson | for The African Report, The evening sun casts a glow over the Bisha mine as the last dump trucks of the day climb up gravel tracks on their way to a refinery, where copper and zinc ore will be processed and shipped off for sale on the world market. This is Eritrea’s […]
Continue Reading