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Eritrea’s growing troubles with the Nakfa – a rare statement from the Bank of Eritrea
Summary by Martin Plaut
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Eritrea’s growing troubles with the Nakfa – a rare statement from the Bank of Eritrea
The official statement first, then a possible explanation. The Bank of #Eritrea hereby informs the public that holding or retaining large amounts of Nakfa outside the banking system for an indefinite period is not permitted. Accordingly, all cash holdings must be deposited into bank accounts no later than 31 July 2026. Individuals without bank accounts are required to open accounts and deposit their funds before the deadline. Failure to comply …
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