BY IMF COMMUNICATION DEPARTMENT * An International Monetary Fund (IMF) team, led by Bhaswar Mukhopadhyay, held discussions in Asmara from May 13–22, 2019 on the Article IV Consultation with Eritrea, the first such discussions in 10 years. At the conclusion of the mission, Mr. Mukhopadhyay issued the following statement:
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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.
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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 […]
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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 […]
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By Fikrejesus Amahazion (PhD), “You must eat before you vote!” (Osinbajo and Ajayi 1994). With that bold declaration, Mahatir Mohamed, then the Prime Minister of Malaysia, strongly asserted one side of the development versus human rights debate. Essentially, the debate revolves around whether economic development can be effectively pursued while at the same time respecting […]
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By Solomon G.S., IN TODAY’S Ethiopia, not only are the liberties of citizens trampled by the regime, but the rank of the destitute is increasing at a high rate. It is simply impossible for a citizen of the country to think that they have inviolable rights as human beings, that their moral worth and dignity […]
Continue ReadingBy Horn Affairs, THE total outstanding external debt surged from 5.6 Billion USD in 2009/10 to 14 Billion USD in 2013/14, according to the data Horn Affairs obtained from the Ministry of Finance and Economic Development. More than half of the amount is directly owed by Ministry of Finance, while the rest belongs to public enterprises. […]
Continue ReadingBy African Development Bnak (AFDB), THE African Development Bank (AFDB) has released the second quarter 2014 socio-economic development Bulletin across the African continent providing a summary information on the previous quarter’s major developments across the sub-region for which data are available on a timely basis. The quarterly Bulletin focusing on East Africa is produced by country […]
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