This coming May 24 marks 25 years since a rag-tag afro coifed army of Eritrean rebel fighters drove their captured Ethiopian tanks through the Eritrean capital of Asmara and gave birth to the modern, “socialist” country of Eritrea.
The birthing process, the “armed struggle for independence”, took 30 years so the modern struggle to build a country based on “scientific socialism”, as Pan Africanists have called it, is still maturing.
While the lives of the people of Eritrea is still a hard one, a major, and very popular step in the development of socialist society has been introduced in what’s known here as the “currency change”, the calling in of all the old currency for replacement. Eritrea at this stage of socialism is still a cash based society with bank accounts something still only for a minority. So changing all the money is a really big deal in a developing third world country. Continue reading Eritrea: 25 Years of Struggle Building Socialism→
Following to the declaration of the redemptionfor Nakfa currency in the fall of last year, the markets in Eritrea have come with new notions of positive remarks. The sharp fall in the prices of consumable goods and other agricultural products have been appealingly magnetizing, and attracts the concern of different quarters.
The first notion which is undeniable is why such immunity in over-inflated market prices has started taking positive direction. In the first place, the limited circulation in the liquidity of money has its own impacts. And stemmed from this, traders who have been the main drivers of the inflation swing has been enforced to deal with the new market notions properly. In fact, the market in Eritrea had been under active guidance of speculators and their collaborators who exploited the market in skewed manner. Continue reading Guaranteeing Signs of Market Stability in Eritrea→
In past articles in our ‘2015 in Review’ series, we covered the status of the attrition war against Eritrea and the use of migration, human rights and biased media coverage as part of an isolation strategy to diplomatically isolate Eritrea and implode its economy. With Eritrea escapingisolation attempts, that strategy has failed, which has led enemies of the Eritrean state push for the end goal, economic collapse, by shifting their focus on the economic war against Eritrea. In response Eritrea has employed a strategy of its own: economic restructuring. Continue reading 2015 in Review: Eritrea’s Economic Restructuring→