NO. 12


Financial and Banking News

Budgets & Revenues

Algerian Prime Minister Says Country Must Seek Debt Relief

Algerian Prime Minister Redha Malek told Algerian television on 16 Decemberthat falling oil prices have placed the country in a position where it can nolonger service its foreign debts and it must therefore seek debt relief. He saidthat if oil prices continue to fall, Algeria would not be able to service itsdebts in 1994.

Mr. Malek, who became Prime...