Africa > Eritrea, The State of

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International Monetary Fund
This paper presents an Ex Post Assessment of Long-Term IMF Engagement in Ethiopia. IMF involvement since 1992 helped underpin the authorities’ gradualist policies. Initially, IMF-supported programs aimed at stabilizing the economy and breaking with the legacy of central planning. Later programs emphasized structural reform to support sustainable high growth and poverty reduction. Although macroeconomic stability has been largely achieved, structural reform was gradual and piecemeal, especially under the Enhanced Structural Adjustment Facility. Many of the most immediate and distortionary policies of the centrally planned past have also been overhauled.
International Monetary Fund
The Eritrean economy continues to be adversely affected by the effects of the border conflict with Ethiopia. In other structural reform areas, the government seems to have further increased state control over the economy. The authorities confirmed their commitment to strengthen the role of the private sector, but they believed that the sector was not yet ready to take the lead in a number of critical areas. The preparation of a medium-term macroeconomic outlook was beset by a number of difficulties, including, in particular, the lack of timely and reliable data.
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
This Selected Issues paper examines the impact of relief and reconstruction expenditures in Eritrea on the fiscal profile. The paper discusses the principle categories of extraordinary expenditures, which the authorities have undertaken during 1993–96 for relief and reconstruction purposes. It analyzes developments and reforms in the financial system. The paper highlights that Eritrea’s financial system has undergone considerable reform through the mid-1990s, but remains rudimentary and concentrated, and is still largely owned and controlled by the state.
International Monetary Fund
This paper describes economic developments and reforms in Eritrea during the 1990s. The paper highlights that the government’s main economic objectives were to promote high and sustainable economic growth and thereby increase per capita income, create employment opportunities, and attain a sustainable external position over the medium term. The paper discusses the developments in domestic production, prices, and the structural reforms undertaken in Eritrea. Developments in public sector finances are covered, and monetary developments and financial sector reform efforts are also summarized.
International Monetary Fund
This paper describes economic developments in Eritrea during 1990–95. In 1993, despite strong growth in the industry and distribution sectors, real GDP growth was adversely affected by a substantial decline in agricultural output, owing to poor rain distribution, pest problems, and drought in some regions. The growth in industry reflected increased availability of raw materials and spare parts, and construction activity related to the rebuilding of war-damaged roads, buildings, and housing. The distribution sector benefited from the growth in the industrial sector as well as a substantial increase in imports.
International Monetary Fund. Secretary's Department


The speeches made by officials attending the IMF–World Bank Annual Meetings are published in this volume, along with the press communiqués issued by the International Monetary and Financial Committee and the Development Committee at the conclusion of the meetings.