The economy of Eritrea has experienced considerable growth in recent years, indicated by an improvement in gross domestic product (GDP) in October 2012 of 7.5 percent over 2011. However, worker remittances from abroad are estimated to account for 32 percent of gross domestic product. Eritrea has an extensive amount of resources such as copper, gold, granite, marble, and potash. The Eritrean economy has undergone extreme changes due to the War of Independence.
Asmara, or Asmera, is the capital and most populous city of Eritrea, in the country's Central Region. It sits at an elevation of 2,325 metres (7,628 ft), making it the sixth highest capital in the world by altitude. The city is located at the tip of an escarpment that is both the northwestern edge of the Eritrean Highlands and the Great Rift Valley in neighbouring Ethiopia. In 2017, the city was declared as a UNESCO World Heritage Site for its well-preserved modernist architecture. The site of Asmera was first settled in 800 BC with a population ranging from 100 to 1,000. The city was then founded in the 12th century AD after four separate villages unified to live together peacefully after long periods of conflict. Under Italian rule the city of Asmara was made capital of Eritrea in the last years of the 19th century.
.er is the country code top-level domain (ccTLD) for Eritrea.
The Tekezé or Täkkäze River, also spelled Takkaze, is a major river of Ethiopia. For part of its course it forms a section of the westernmost border of Ethiopia and Eritrea. The river is also known as the Setit in Eritrea, western Ethiopia, and eastern Sudan. According to materials published by the Ethiopian Central Statistical Agency, the Tekezé River is 608 kilometers (378 mi) long. The canyon which it has created is the deepest in Africa and one of the deepest in the world, at some points having a depth of over 2000 meters.
The nakfa is the currency of Eritrea and was introduced on 8 November 1997 to replace the Ethiopian birr at par. The currency takes its name from the Eritrean town of Nakfa, site of the first major victory of the Eritrean War of Independence. The nakfa is divided into 100 cents.
The Mareb River, or Gash River is a river flowing out of central Eritrea. Its chief importance is defining part of the boundary between Eritrea and Ethiopia, between the point where the Mai Ambassa enters the river at 14°53.6′N37°54.8′E to the confluence of the Balasa with the Mareb at 14°38′N39°1.3′E.
The Eritrean–Ethiopian War, also known as the Badme War, was a conflict that took place between Ethiopia and Eritrea from May 1998 to June 2000, with the final peace only agreed to in 2018, twenty years after the initial confrontation. Eritrea and Ethiopia both spent considerable amount of their revenue and wealth on the armament ahead of the war and suffered reportedly 100,000 casualties combined as a direct consequence thereof, excluding indeterminate number of refugees. The conflict ultimately led to minor border changes through final binding border delimitation overseen by the Permanent Court of Arbitration.
Zalambessa is a town located on the Ethiopian border. Zalambessa is part of the Misraqawi (Eastern) Zone of the Tigray Region. It is about 42 kilometers north of Adigrat. The Serha-Zalambesa border crossing is located in the town.
The Health in Eritrea has been poor on a world scale. Nevertheless, Eritrea is one of the few countries to be on target to meet its Millennium Development Goal (MDG) targets for health. As of 2005, over two-thirds of the population lived below the national poverty line and the vast majority in rural areas, about one-third of the population lived in extreme poverty and more than half survived on less than US$1 per day. Researchers at the Overseas Development Institute have identified the health and education as a high priority, both within the government and amongst Eritreans at home and abroad. Innovative multi-sectoral approaches to health were also identified with the success.
Asmara International Airport, IATA: ASM, ICAO: HHAS, is the international airport of Asmara, the capital of Eritrea. It is the country's largest airport and, as of 2017, the only one receiving regularly scheduled services.
The Commercial Bank of Ethiopia (CBE) is the largest commercial bank in Ethiopia. As of June 2015, it had about 303.6 billion Birr in assets and held approximately 67% of deposits and about 53% of all bank loans in the country. The bank has around 22,908 employees, who staff its headquarters and its over 1000+ branches positioned in the main cities and regional towns. The latter include 120 branches in the national capital Addis Ababa. With the opening of a branch in the Gechi in the Illubabor Zone, CBE's banking network has reached online 783 branches. The bank has reached 1284 branches as of 10 August 2018.
Modern banking in Eritrea started with the arrival of the Italian colonizers. However, from 1974 on, the banking sector became a government monopoly. This situation continued after Eritrea achieved its independence. The Bank of Eritrea is the central bank of Eritrea.
Articles related to Ethiopia include:
Articles related to Eritrea include:
The Bank of Eritrea is the central bank of Eritrea. The bank is located in Asmara, the capital. The central bank is interested in encouraging foreign investment and in importing capital goods such as industrial machinery and agricultural equipment. The Central Bank of Eritrea, though a government entity, is independent from the Ministry of Finance; its governor and policy committee formulate and implement policy with input from the Ministry of Finance. Although travellers are permitted to bring foreign currency into the country, all transactions are to be made in Nakfa.
The Commercial Bank of Eritrea is the only banking institution in Eritrea with full retail commercial banking services. It is a government-owned bank, with 17 branches throughout the country. The Bank has arrangements with Citibank for international money transfer, as well as with Deutsche Bank.
The following outline is provided as an overview of and topical guide to Eritrea:
Eritrea, officially the State of Eritrea, is a country in the Horn of Africa region of Eastern Africa, with its capital at Asmara. It is bordered by Ethiopia in the south, Sudan in the west, and Djibouti in the southeast. The northeastern and eastern parts of Eritrea have an extensive coastline along the Red Sea. The nation has a total area of approximately 117,600 km2 (45,406 sq mi), and includes the Dahlak Archipelago and several of the Hanish Islands.
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