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Eritrea

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Country summary

Capital

Asmara (Asmera)

Borders

Djibouti 109 km, Ethiopia 912 km, Sudan 605 km

Government type

transitional government

Population

5,647,168 (July 2010 est.)[1]

Population growth

2.577% (2010 est.)[1]

Life expectancy

61.78 years[1]

Unemployment

NA%[1]

Index of Economic Freedom

176[2]

Corruption Perceptions Index

126[3]

Doing Business ranking

175[4]


The UN awarded Eritrea to Ethiopia in 1952 as part of a federation. Ethiopia's annexation of Eritrea as a province 10 years later sparked a 30-year struggle for independence that ended in 1991 with Eritrean rebels defeating governmental forces; independence was overwhelmingly approved in a 1993 referendum. A two-and-a-half-year border war with Ethiopia that erupted in 1998 ended under UN auspices in December 2000. Eritrea hosted a UN peacekeeping operation that monitored a 25 km-wide Temporary Security Zone (TSZ) on the border with Ethiopia. Eritrea's denial of fuel to the mission caused the UN to withdraw the mission and terminate its mandate 31 July 2008. An international commission, organized to resolve the border dispute, posted its findings in 2002. However, both parties have been unable to reach agreement on implementing the decision. On 30 November 2007, the Eritrea-Ethiopia Boundary Commission remotely demarcated the border by coordinates and dissolved itself, leaving Ethiopia still occupying several tracts of disputed territory, including the town of Badme. Eritrea accepted the EEBC's "virtual demarcation" decision and called on Ethiopia to remove its troops from the TSZ that it states is Eritrean territory. Ethiopia has not accepted the virtual demarcation decision.[1]

Economical characteristicsEdit

  • Currency: Nakfa (ISO code: ERN)
  • Central bank discount rate: [1]
  • Commercial banks lending rate: NA%[1]
  • Stock of money (M1): $896.2 million (31 December 2008)[1]
  • Quasi money (with M1 makes M2): $1.053 billion (31 December 2008)[1]


StatisticsEdit

Statistic / Year 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
GDP (million USD)[5] 689 634 688 675 598 631 1 161 1 282 1 374 1 654
Govt. debt (% of GDP)[6]
Govt. revenue (% of GDP)[7]
Govt. expenses (% of GDP)[8]
Debt to revenue (years)

ReferencesEdit

Note: statistical data was rounded. Different sources may use different methodologies for their estimates. Debt to revenue is calculated by dividing the two variables from their original ('unrounded') values. It represents how long it would a government take to repay its entire debt if it used its whole revenue for this purpose.

  1. 1.0 1.1 1.2 1.3 1.4 1.5 1.6 1.7 1.8 CIA - The World Facebook. "Eritrea", from The World Facebook. Referenced 2010-10-01.
  2. Heritage Foundation. "Eritrea", Economic Freedom Score. A lower ranking is better; but please be careful when comparing between different countries or years. Referenced 2010-10-01.
  3. Transparency International. "Eritrea", Corruption Perceptions Index 2009. A lower ranking is better; but please note that the numbers cannot be compared between countries or years due to different methodology. Referenced 2010-10-01.
  4. Doing Business. "Eritrea", Doing Business 2010 (part of The World Bank Group). A lower ranking is better; but please be careful when comparing between different countries or years. Referenced 2010-10-01.
  5. World Bank. "Eritrea: GDP", from World Bank Data. Referenced 2010-10-01.
  6. World Bank. "Eritrea: government debt", from World Bank Data. Referenced 2010-10-01.
  7. World Bank. "Eritrea: government revenue", from World Bank Data. Referenced 2010-10-01.
  8. World Bank. "Eritrea: government expenses", from World Bank Data. Referenced 2010-10-01.

External linksEdit

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