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Some Experts Wary of Eritrean Currency Redemption Plan

The Bank of Eritrea recently announced that all Nakfa notes in circulation must be exchanged for new government-issued notes. The decision by the country’s central financial institution is expected to have a major impact on the economy. While the nationwide currency replacement program is not meant to change the value of the money, as the exchange will be on a one-to-one basis, observers nonetheless expected the effects to be wide-ranging. Biniam Fessehazion Gebremichael, a former...

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