International Finance Corporation (IFC) President Lars Thunell, on an official two-day visit to Algeria on Wednesday (December 6th) and Thursday, assessed the country's ability to attract foreign investment. Thunell said that the administrative paper work required for investment in Algeria is "some of the most complex in the world, and leaves Algeria at 165th place out of 177 countries in this regard." IFC and the Algerian Economic Ministry signed an accord in October with regard to simplifying the procedures for foreign investors. Thunell also said that lack of transparency in privatisation and slowness in banking reforms are also problems. However he expressed his confidence that Algeria "is headed in the right direction even though there is still a lot that needs to be done."

IFC official: Algeria's fiscal system is too complicated