NO. 50


Financial and Banking News

Capital Markets

Algeria Receives Loan from EC, Asks IMF for Understanding

EC finance ministers agreed on 9 September to extend an ECU400mn ($484mn)seven-year loan to Algeria. The EC commission had recommended ECU500mn andAlgeria had asked for ECU800mn. Some of the finance ministers expressed reservations about the size of the loan, half of which is to be disbursed immediately.The loan has been made conditional on Algeria making progress...