First Independent Mena Newspaper
The health of Algeria’s currency, the dinar, has always been measured against oil prices. The end of the era of expensive oil in late 2014 has sent the dinar dwindling in value as Algeria continues to squander its oil mantra avoiding painful reforms to diversify its economy. Since the beginning of this year, the dinar […]
As it heads straight to insolvency, Algeria insists on shunning foreign debt as it resorts to unconventional measures involving the Central Bank money printing to delay an impending bankruptcy in the absence of genuine reforms. After Algerian Prime Minister Ahmed Ouyahia announced a five-year plan to reduce his country’s ballooning budget deficit by borrowing directly […]