Algerian debt falls sharply, foreign reserves rise

Algeria's foreign exchange reserves rose to $9,691 million in October 2000, a 120 per cent increase on the foreign exchange reserves held at the end of 1999, figures published in the December 2000 edition of the IMF's International Financial Statistics (IFS) show.

The increase in foreign reserves has been accompanied by an acceleration in debt repayments, reducing the country's outstanding debt to $25,500 million at the end of this year, from $28,300 million at the end of 1999.

Abdelouahab Kera

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