President Tebboune: “In Loyalty To The Glorious Martyrs, I Renew My Pledge Not To Resort To External Debt”

On Wednesday, President of the Republic Abdelmadjid Tebboune affirmed his commitment not to resort to external debt, condemning what he called slanderous speeches, which sought in the past decade to place Algeria in the hands of the International Monetary Fund.
President Tebboune said in a speech he delivered at the trade union headquarters on the occasion of Labor Day: “In loyalty to the lofty martyrs, I renew my commitment not to resort to external debt.”
Before recalling “the period of the collapsed economy, and the miserable conditions that Algeria was experiencing before 2019,” which he considered “the last year of the mafia decade.”
Criticizing “the false speeches that claimed the treasury was unable to pay workers’ wages and that the exchange reserve had reached its lowest levels.” He said that its goal was “to demoralize the Algerians and hand the country over, by placing Algeria in the hands of the International Monetary Fund.”
On the other hand, the President of the Republic confirmed his readiness to adopt a new mechanism for dialogue between the government, the central union, and employers. However, he stipulated that “it should not be like the previous trilaterals, whose decisions remained a dead letter.”
President Tebboune’s speech stated: “In order to reach correct and non-circumstantial decisions, there is a need for dialogue and consultation with the General Union of Algerian Workers and all free patriots And all those who preceded us in patriotism and struggle.”