NO. 27


Financial and Banking News

Budgets & Revenues

Algeria Looks To IMF Rescheduling To Deflect Debt Burden

Algerian Prime Minister Redha Malek has said his country is near an agreementwith the International Monetary Fund (IMF) that will ease the burden ofservicing its $26bn foreign debt. Speaking in Paris on 28 March, Mr. Malek saidthat in 1993 servicing debt had cost Algeria $9.4bn, while earnings from itshydrocarbons industry brought in only $9.8bn. "Debt servicing...