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International Monetary Fund
This Selected Issues paper and Statistical Appendix examines the sustainability of the public finances in Eritrea. The paper analyzes monetary policy and management. It points out that the period since gaining independence in 1993 has not been long enough for the authorities in Eritrea to gain a full understanding of the functioning of the economy and develop the necessary skills and expertise to successfully implement the complex mix of economic, financial, and development policies needed to strengthen growth and reduce poverty. The paper also analyzes the determinants of inflation in Eritrea.
International Monetary Fund

circles regarding sustainability is examined. 4. Monetary policy in Eritrea is completely subordinated to fiscal policy so that the statutory independence of the BE has been de facto suspended. This situation does not represent an approach that will permit the BE to successfully pursue the key stability objectives of stabilizing the domestic and external values of the nakfa under its 1997 law. The document on monetary policy and management clarifies the risks of this approach, and also discusses the statutory role of the BE in relation to international best practices