Middle East Economic Survey

VOL. XLVII

No 31

02-August-2004

REGIONAL BANKING

Khalifa Group Debts Put At $2Bn

The debts of the bankrupt Algerian Khalifa Group are estimated at some AD168bn ($2bn), according to the official liquidator. Speaking on Canal Algérie the liquidator, Mr Badci, said he was not optimistic about possible reimbursement to creditors. We try to maximize the resources, but we are sure that we will never exceed the rate of 10% of reimbursement. The assets are very low compared with...