ALGERIA

Algerian President Announces Austerity Measures as Revenues Plummet 

In the face of collapsing oil prices - which, according to President Chadli Benjedid, will reduce Algeria's income by some 80% - the Algerian Government is taking austerity measures aimed at promoting autarky and national self-reliance.

The Algerian President's announcement - the first official acknowledgement that Algeria faces severe economic problems as a result of the crisis in the oil market -...