In a pessimistic tone that bodes ill for Algeria’s economic prospects, Algerian Prime Minister Abdelmalek Sellal announced yet a new slump in the country’s foreign exchange reserves, which currently stand at $112 billion. As Algeria’s revenues continue to be battered by the slump in oil prices, Sellal, who was speaking in Annaba at a meeting […]
Four containers carrying 11 tons of cannabis resin have been seized in Malta while on their way from Syria to Libya. The shipment, discovered in the four containers after they were scanned, was seized at Malta Freeport on Monday as it was to complete the journey to Libya. Customs officials at the port became suspicious […]
The Algerian government has started to feel the heat of the falling oil and gas revenues, as the country’s foreign exchange reserves are expected to further drop to $85 billion at best, barely enough to cover 18 months of imports. The figure was recently announced by Algeria’s finance minister Abderrahmane Raouya who told MPs that […]
