Former finance minister: Queddafi humiliated Algeria
The former Delegate Minister for treasury, Ali Bounouari has vehemently criticized the economic policy conducted over the last years, noting that Algeria is doomed to suffer the same recession it suffered in 1986 in case of another oil shock on the international markets.
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Talking at “ Echourouk Forum”, the monetary expert has indicated that the successive governments that led country over the last decade have negated the positive outcomes of the previous policies .
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The interlocutor has asserted that he tried his utmost to convince the, then Prime Minister, Reda Malek to conduct negotiations with the international financial institutions to spread the delays for the settlement of the Algerian debt that amounted to $ 24 billion.
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M Bounouari has revealed the manner with which the Libyan president Moammar Al – Queddafi has treated the Algerian authorities in 1991 when he refused to lend Algeria $1.5 billion, noting that he has personally travelled to Tripoli for that.
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The expert has indicated that the Libyan finance minister has informed him that El- Queddafi refuses to give the money for Algeria but advise the Algerian authorities to turn to the French bank ABC which is run by a Libyan, though he knew that Algeria was not even able to borrow $ 1 million at the time.
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M Bounouari has indicated that he forwarded a thorough assessment to the Algerian Prime Minister Sid Ahmed Ghouzali upon his return from Tripoli in which he related the very bad treatment he has received from the Libyan officials.
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The former minister has also revealed the reply of the French minister Jacques Delore to the Algerian Prime Minister’s request concerning a loan from Paris club. This later has indicated that he France can convince Spain and Italy but the Algerian authorities have to sway the Northern countries.
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