Algeria: Reserves Slump To 12-Year Low, But Country Has Bigger Problems

...Algeria’s foreign reserves stood at just $90bn as of end-May, well under half levels during the 2011-14 years of $100/B-plus crude. The IMF says it expects reserves to fall further to $83bn by end-2018 and below $50bn by end-2020 (see chart). But as the Washington-based institution makes cl...