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Updated Feb 13, 2020

Algeria’s debt-to-GDP ratio rose to forty-five percent at the end of 2018, up from twenty-six percent in 2017. Prime Minister Abdelaziz Djerad, addressing Algerian legislators, warned that the OPEC member’s economic situation was “delicate”, blaming mismanagement and corruption over the past few years for the flailing economy. 

Declining foreign exchange reserves and a global dip in oil prices have compounded the country’s economic woes, and the mass protests against the regime that started a year ago are ongoing. Djerad promised the government would carry out “deep reforms”, including increased dialogue with the opposition; developing the national stock exchange; and potentially issuing sukuk, a type of bond compliant with Islamic law.

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