Eritrea Closes Hundreds of Businesses for Bypassing Banks 1 234 567

Eritrea Closes Hundreds of Businesses for Bypassing Banks

voanews.com

Eritrea has temporarily shut down nearly 450 private businesses, the latest in a series of moves that has sent shockwaves through the economy of the Red Sea nation.The closures were a response to companies hoarding cash and “failing to do business through checks and other banking systems,” according to a Dec. 29 editorial published by Eritrea’s Ministry of Information on the state-run website Shabait.com.Most of the affected businesses operate in the hospitality sector, according to...

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