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...