Page "Economy of Eritrea" Paragraph 18
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According to the International Monetary Fund, commercial banks in Eritrea — all government owned and operated — appear to be in compliance with prudent regulations.
Although the commercial banking sector is largely profitable, mostly owing to income from foreign exchange transactions, the sector is burdened by a high proportion of non-performing loans.
Core lending activities do not generate sufficient income to cover operating costs at most commercial banks.
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