Algeria's CPA, BDL privatisation not on agenda, says Finance Minister

According to Finance Minister Karim Djoudi, the Algerian Government is not keen, for the time being, to kick start the privatisation process of the CPA and BDL Banks on account of the heavy disruptions now gripping the world financial markets.

He asserted that Algeria would balk at opening the capital of its public banks to foreign investments as long as the acute subprime crisis, which has had a disastrous impact in the USA and Europe , had not faded away for good.

The Finance Minister said, to this effect, that Algeria was wary of sustaining a damaging backlash effect from such a world financial turmoil on its fledging economy.

Meanwhile, Karim Djoudi also announced on the occasion a set of stringent measures aimed at better controlling the financial transactions and expenses made by state-run companies so as to avert any drift or malpractice.