The Algerian Government Borrows From Emigrants In Dinars!

After the Eid Al-Fitr feast, the Algerian Government will issue public Treasury bonds at the level of the most important European capitals and major cities where there is a high concentration of Algerians settled abroad.

This bond for our national community abroad will be issued at the premises of Embassies and Consulates until the Algerian Banks could have subsidiaries overseas.

These vouchers, worth between one and one hundred million centimes, and of the same fiduciary value as in Algeria, will be issued in dinars rather than in foreign currency, knowing that France alone has 400 Algerian business leaders settled there.

This is fully in line with the continuity of the broad-based encounter organized earlier this week at the Al Aurassi hotel in Algiers by the Forum of business leaders (FCE), with its President Ali Haddad, receiving from the participants subscriptions for financial commitments devoted to the shoring up of the national bond loan for a total amount of 152 billion dinars ($ 1.5 billion dollars).

The 380 subscribers out of the 800 participants who are among the members of the employers’ organization, heads of public and private companies, public and private banks and the General Union of Algerian Workers (UGTA) represented by its Secretary General Abdelmajid Sidi Said, signed up, each according to its financial capabilities.

Furthermore, it should be noted that the UGTA has already contributed to the collection of 2,500 billion centimes in Treasury bonds representing deductions from wages of workers and officials from various sectors.