VOL. XXXIX

No. 40

1-July-1996

ALGERIA

Algeria Reschedules Some Commercial Bank Debt

The US bank Chase Manhattan said on 27 June that Algeria had successfully negotiated a rescheduling of $2.1bn of commercial bank debt that would take payments up to 2010. This rescheduling with commercial banks follows agreements with sovereign lenders France and Italy reached in early April this year. The Central Bank of Algeria put the country's total foreign debt at the end of 1995 at $31bn (MEES, 3...