VOL. XXXVIII

NO.41

10-JULY-1995

Financial and Banking News

Structural Reform

Algeria Bites The Bullet

Following the successful conclusion of its negotiations with theInternational Monetary Fund (IMF), which resulted in the provision of anextended fund facility (EFF) worth $1.8bn last month, the Algerian Government iscurrently implementing an ambitious reform program under the tutelage of theFund and the World Bank. The EFF agreement follows the approval of a stand-bycredit worth $1.04bn at the end...