Eritrea’s Economic Progress Reflects Astute Policy of Self-Reliance

The economic progress Eritrea is registering on the basis of self-reliance challenging the paradigm of dependency on foreign aid as adopted by many developing countries, reflects the practicality of the country’s policies, the ‘Nepali Times’ newspaper reported. Asmara, 13 June 2010 – The economic progress Eritrea is registering on the basis of self-reliance challenging the paradigm of dependency on foreign aid as adopted by many developing countries, reflects the practicality of the country’s policies, the ‘Nepali Times’ newspaper reported.

In a research based articled headed “ An Alternative to the World Bank and IMF”, the newspaper pointed out that Eritrea has been able to reduce illiteracy and death rates, increase school enrollment as well as improve life expectancy over the past 10 years changing the traditional impediment principle by self –reliance.

The publication went on to state that Eritrea is rating on the UN Human Development Index which measures achievement in three dimensions (long healthy life, knowledge and a decent standard of living) rose 9.3 % as a result of the strenuous efforts the Eritrea is undertaking based solely on internal capacity. It also added that Eritrea’s social indicators are gradually but surely improving.

Moreover, the article indicated that countries like Venezuela, Bolivia, Ecuador and others are opting to adopt Eritrea’s policy of self-reliance and avoiding foreign aid.