Financial crisis “weak” consequences on Algeria, Djoudi Says

“The Global Economic Crisis has “weak” consequences on Algeria”, said the Algerian Finance Minister, Karim Djoudi.   

• Mr. Djoudi also said; “The IMF and the World Bank assessment is based on their action of reducing significant foreign debts, which made it possible for Algeria to avoid paying additional amounts from higher rates interest”.
• He also discussed, during talks with Deputy Chairman  of the World Bank about the prospects of the world financial crisis and its negative consequences on the Global markets, in addition to the down growth in the Euro area, the possibility of growth in China and relatively low growth in India.
• According to Mr. Djoudi; “The decline of oil prices will have negative consequences on the Algerian foreign revenues, but the Dollar’s high value will help decrease prices of basic products”.
• Djoudi focused on the implications of the financial crisis and tensions on food and economies of weak revenue countries.