Algeria requested to bolster IMF lending capacity to crisis-hit countries

Algeria has been requested by the IMF to contribute to loan capacity building of the international financial institution in the context of global economic woes and lingering uncertainty.

• This was confirmed by Finance Minister Karim Djoudi to the press, in conjunction with the spring meeting of IMF and World Bank.

• After several calls from IMF Executive Director Christine Lagarde, to the international community to bolster the “firewall” of this financial institution, the G20 pledged last Friday in Washington to give the IMF more than $ 430 billion dollars of additional resources.

• “The request was therefore made by the IMF to Algeria as countries with financial surpluses to increase the resources of the Bretton Woods institution to enable it to provide loans to countries in dire need”, Karim Djoudi asserted.

• As for the answer given, the finance minister said that Algeria “will study and assess the conditions under which this request will be proposed in the slightest details”.

• Economic experts Benbitour and Latrèche told Echorouk that the requested loan from the International Monetary Fund would have no deleterious impact on Algeria’s financial stability in the near future in view of the unalloyed solvency of the Bretton Woods institution whose financial reserves are most important, as they explained.