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...