No. 5



Algerian Foreign Debt Estimated At $29.4Bn

The Algerian Finance Minister, Mr. Ahmad Benbitour, has said that Algeria's foreign debt stood at $29.4bn at the end of 1994. The minister noted that fluctuations in the value of the dollar have cost Algeria an extra $650mn to service the debt and pay for food imports in 1995. Mr. Benbitour added that gross domestic product (GDP) would grow by 4 to 5% in 1995, a downward revision from an earlier forecast...