Long ruling Bouteflika has stepped down after popular protests leaving behind him an embattled economy vulnerable to international oil prices. After years of unsustainable spending, Algeria’s foreign exchange reserve shrunk to cover only four years of imports making it difficult to sustain a generous subsidy system that has bought peace at the expense of financial […]
The Ugandan government has announced its plan to construct the country’s 1st — and likely Africa’s 3rd — nuclear facility, the Buyende Nuclear Power Plant, in collaboration with China National Nuclear Corporation (CNNC) that would assist Uganda in developing capabilities for peaceful use of atomic energy. Currently in Africa, only South Africa has an active […]
The pandemic has increased Algeria’s “ongoing economic vulnerabilities” following a succession of adverse shocks since 2014, said the International Monetary Fund (IMF), affirming that” the outlook for Algeria remains uncertain and challenging”. Following a visit paid lately to Algeria wherein IMF staff held meetings with officials on the country’s economic developments and policies, the international […]
