Algeria's financial sector under IMF and World Bank scrutiny

[Al-khiyal]

A detailed official report enshrining Algeria's financial sector situation, notably its insurance and loan systems, is to be elaborated before the end of the year by the IMF and the World Bank after the visit of a delegation of experts this April, well informed sources told El Khabar.

The preparation of the report coincides with a national savings drop in spite of the rise in wages not matching purchasing power.

During the IMF and the World Bank delegation visit, a series of talks with insurance company managers and banking sector officials have been undertaken.

It is worth noting that the visit coincides with the publication of a general report by the World Bank that embodies tacit criticism over Algeria economic situation and the pace of structural reforms.

Moreover, Breton Woods Algérie considers that banking sector reforms in Algeria suffer from many shortcomings in loan policy. The financial institutions also recommended the need for privatising two state-owned banks at least, and reviewing approaches to loans.

Algeria's financial sector under IMF and World Bank scrutiny

Les finances Algériennes sous la loupe du FMI et de la Banque mondiale

[Al-khiyal]

Algeria banking system under international financial institutions' scrutiny

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