VOL. XXXV
NO. 1
7-OCTOBER-1991
Financial and Banking News
Financial Policy
Algeria Devalues Dinar by 22% to Fulfill IMF Conditions
The Algerian Central Bank announced on 29 September that the Algerian dinarwould be devalued by 22% against the dollar with effect from the following day.The exchange rate of $1=AD22.5 contrasts with recent rates of about $1=AD17.5.The devaluation is part of a package of measures laid down by the IMF asconditions for granting a standby credit facility agreed in June (...
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