VOL. XLII
No. 23
7-June-1999
ALGERIA
IMF Approves CCFF Credit For Algeria
The International Monetary Fund (IMF) has approved a creditfor Algeria totaling SDR223.5mn ($300mn) under the Compensatory and ContingencyFinancing Facility (CCFF) to help offset a temporary shortfall in exports ofgoods and services. The CCFF assists IMF members experiencing temporaryshortfalls in export earnings, and loans are generally repayable over afive-year period. The repayment terms entail a standard annual...
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