No. 29



Algeria's Foreign Debt Estimated At $32Bn At End-1995

The Algerian Finance Minister, Mr. Ahmad Benbitour, has told the local press that Algeria's foreign debt stood at $32bn at the end of 1995 and that "the level of the debt will still be below $40bn until 2004, and the debt servicing ratio will reach 33% of our resources of hard currency in 1996, or less than $4bn." The minister said that the debt servicing ratio was 41% of hard currency earnings...