IMF urges Algeria to abandon monetary financing

Bank of Algeria

The International Monetary Fund recommends the Algerian government gradually cut its reliance on central bank financing following its latest Article IV consultations.

Algeria managed to reduce its hefty budget deficit to 8.8% of GDP in 2017, from 13.5% in 2016. However, direct government financing by the central bank has contributed to other imbalances in the economy.

Inflation is expected to be 7.4% this year, up from 5.6% in 2017, while unemployment has simultaneously increased to 12.3% in

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