Middle East Economic Survey

VOL. XLVII

No 24

14-June-2004

BUDGETS AND REVENUES

France Converts 110Mn Of Algerian Debt Into Infrastructure Investments

The French Government has agreed to convert 110mn worth of Algerian debt into infrastructure investments, it was announced on 5 June when French Finance Minister Nicolas Sarkozy visited the country. Algerias debt has been falling since 1994 and last year external debt had dropped to 33% of GDP ($22bn), while domestic debt was AD911bn ($13.4bn), giving...