NO. 35


Financial and Banking News

Public Finance

IMF Approves $1.8Bn Loan To Algeria

The International Monetary Fund (IMF) announced on 22 May that it hasapproved a three-year extended fund facility (EFF) worth $1.8bn for Algeria. Thenew loan follows the recent rescheduling of $3.2bn of Algerian debt with theLondon Club of commercial bank creditors and paves the way for a new agreementthis summer on debt rescheduling between Algiers and the Paris Club ofgovernment...