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International Monetary Fund

IMF urges economic stability during Algeria's political transition

APRNEWS - Algeria needs to focus on avoiding economic instability during its political transition after the resignation of President Abdelaziz Bouteflika, a senior official at the International Monetary Fund (IMF) said.

Jihad Azour, IMF’s Middle East and Central Asia director, also told Reuters the OPEC member should carry out reforms to help cut deficit and reduce reliance on oil and gas.


Egypt : Local banks at risk of government over-indebtedness

APRNEWS - Egypt’s local banks are at risk of government over-indebtedness, data from the Institute for international Finance showed. Last year, Egypt was the world’s second-largest borrower from local banks, after China. Public debt interests to be paid in 2018 and 2019 are an average of 8% of GDP. Meanwhile, budget deficit stood at 6% of GDP. 

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