Algerian Central Bank Highlights Economic Stability
The statements of the Governor of the Bank of Algeria, Mohand Boudoua, during the 54th meeting of the International Monetary and Financial Committee of the International Monetary Fund, emphasized the importance of restoring macroeconomic financial stability and supporting sustainable growth amid the increasing conflicts and geopolitical events in the Middle East and Europe. He confirmed that economic policies should focus on reducing the fiscal deficit, putting public debt on a sustainable track, while protecting vulnerable groups and public investments. He also clarified that rising energy prices could strengthen the financial balances of Algeria and Libya, supporting reform efforts and investments. Additionally, he stressed the need for monetary policies to prioritize price stability and maintain exchange rate flexibility to facilitate price adjustments and strengthen international reserves. The IMF was called upon to provide greater support for financing low-income countries and to adapt its tools to address the growing economic challenges.
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