By Magidu Nyende and Luka Okumu, ERITREA’S monetary policy has mainly been geared to accommodating the public fiscal deficits. Broad money supply increased sharply to 119% of GDP in 2011 and 2012. Due to exceptionally high deficits in the previous years, the authorities had to resort to central-bank financing. Credit supply to the private sector […]
Continue ReadingBy Magidu Nyende and Luka Okumu, EVIDENCE-based assessment of fiscal policy in Eritrea is severely constrained by lack of transparency and availability of basic information on fiscal operations and management, including, of course, the budget. Estimates by various sources, including the IMF, however, indicate a continued improvement in the overall fiscal deficit (after grants) from […]
Continue ReadingBy Nevsun & Henry Lazenby, NEVSUN Resources, which is focused on extracting copper from its 60%-owned high-grade Bisha copper mine, in Eritrea, this week reported rising first-quarter profit as copper output ramped up. The Vancouver-based miner late on Tuesday reported net income of $15.4-million, or $0.08 a share for the three months ended March 31, compared with […]
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