Algeria to pay debts to Germany in advance

[Al-khiyal]

Algeria will sign an agreement with Germany in early September for early payment of its debts to Berlin estimated at 736 million US dollars, a senior official said.

Finance Minister Murad Madalsi said in remarks to KUNA that Algerian authorities held negotiations with Germany on this issue, adding that the external debts would be slashed to five billion dollars from $15.5 billion, as recorded last February, on the basis of advance payment.

Algeria had planned to pay its debts between November 30, 2006, and 30 November, 2011.

The country, which has not sought external loans since 2005, paid some $117.9 billion, including $84 billion worth of interest, between 1985 and 2005.

Algeria has signed agreements with 17 states for paying or re-scheduling debts, estimated at $7.9 billion.

Algeria to pay debts to Germany in advance

[phylay]

Wonder why Germany changed their mind. They were against in in advance payment

[FORTUNATO]

Wonder why Germany changed their mind. They were against in in advance payment

They probably understood that: "If they dont get now, they may never get it in the near futur"