Algeria is expected to pay off its external debts by the completion of all financial owings payment arising out from debts pre-payment agreement due to be concluded by the end of next November, in addition to negotiations with Germany and USA for the not-yet-paid remaining shares. Moreover Algeria is expected to pay about 800 million Dollars to the London Club, thus, external debts value will drop back to less than 5 billion Dollars.

In this very context, Algeria will finally discharge its debts owed to Italy, estimated at 1.218 billion dollars, on the forthcoming 31st October. Algeria debts pre-payment to Italy will comply with the agreement due to be concluded between Mr. Mourad Medelci for the Algerian party as well as an Italian government representative at the finance ministry headquarters, reliable sources told El Khabar.

Algeria to get rid of its debts by end of November