VOL. XLIII

No. 10

6-March-2000

ALGERIA

Algerian Foreign Debt Down 7.1% Due To Higher Oil Price

The Algerian Central Bank says that Algerias total external debt dropped in 1999 by 7.1% to $28.315bn from $30.473bn, mainly due to the increase in oil prices. Sources in Algeria said the governments policy of moving short-term and more costly debt to fixed-income instruments with longer maturities is evident in the latest data released by the Central Bank, and short-term debt has fallen from $1.791bn...