World Bank deplores Algeria’s denial of its bleak economic outlook

World Bank deplores Algeria’s denial of its bleak economic outlook

After a series of attacks by the Algerian government through its official media, the World Bank has responded in a well-thought statement that defended its latest data-based report warning on worsening poverty and economic conditions in Algeria.

The official mouthpiece of the military regime in Algeria has published at least three articles in which it accused the World Bank of seeking to undermine Algeria’s stability and accused the report of serving Moroccan interests. The APS went as far as attacking the MENA region head in the World Bank Farid Belhaj accusing him of being a Moroccan lobbyist.

Nowhere did the APS or other media put forward data or figures to respond to the World Bank analysis and data-based outlook warning of economic downturn and a social implosion in oil-dependent Algeria.

In a succinct response, the World Bank reminded Algeria that the report was conducted on the basis of official data.

The report, “which undergoes a thorough quality review before it is released, is based exclusively on publicly available data that is referenced in the report, or data that is supplied directly by member country authorities,” said the World Bank.

“The conclusions of the report are consistent with official data available at the report’s data cut-off date (November 1st, 2021), most of which is presented in the bulletin of the Central Bank of Algeria published on December 22, 2021,” it said.

“We have noted with regret that some of the articles cited above have adopted language which may not have been fully thought through by their anonymous authors. Unacceptable as they are, these comments will not be responded to, as we do not consider that they could be used as an argument or constitute an element of debate,” the World Bank said.

The Algerian hysterical response to the report- which warns of a surge in poverty in Algeria and an impending economic crisis in the country – is reflective of a regime in disarray and denial restoring to lies and cosmetic reforms to delay the inevitable: structural adjustment.

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