7 July 2026.

Articles by Martin Plaut and Mahder Nesibu in HornReview offer an analysis of the possible reasons for recent measure of Bank of Eritrea to order all cash to be deposited to bank accounts, forcing those who do not have it to open one, and forbid its holding by anyone. It is hard to imagine how can an economy function without cash in a country with no ATM’s or credit and cash cards and no pay by phone systems.

Currently large amounts of Eritrean Nakfa are being used in the Southeast of South Sudan and in the Tigrinya area of Ethiopia.

These circumstances make both writers think that the Eritrean government will recall the current notes, like it did in 2015, making it extremely difficult to redeem them.

Sources: martinplaut.com and HornReview.

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