Tag: financial crisis
Algeria Energy Finance Headlines

Algeria’s energy revenues to plunge by $10 bln deepening financial crisis

North Africa PostComments Off on Algeria’s energy revenues to plunge by $10 bln deepening financial crisis

Algeria’s oil and gas revenues will be reduced by $10 bln to $23 billion as the country struggles with a surge in spending in a heavily subsidized economy. Algerian officials rang the alarm bell as to the deteriorating financial indicators as a result of dwindling energy revenues which represent more than 90% of exports. To […]
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Rise of the ‘Renmimbi’ to the International Stage: A Win-Win Game for the Emerging Multi-Polar Global Economy

North Africa PostComments Off on Rise of the ‘Renmimbi’ to the International Stage: A Win-Win Game for the Emerging Multi-Polar Global Economy

Empirical studies show that the international monetary system is already tripolar. The Chinese currency, the renmimbi, has increasingly become a reference currency, as one which exhibits a high degree of co-movements with other currencies. In the wake of the 2008 financial crisis, the renmimbi has accelerated its standing as the East-Asia exchange rate reference currency […]