Algeria forex reserves at $155 billion in 2010
OPEC member Algeria’s foreign exchange reserves reached $155 billion at the end of 2010, an official said on Wednesday.
That level of
reserves would allow the government to pursue its economic programme
sustainably, finance ministry director, Abdelmalek Zoubeidi, told state
radio, chaine 3.
“There is also a margin of security for the coming years,” he said.
The programme to put Algeria’s economy back on track is worth $286 billion over five years.
The North African country has sharply reduced national debt and
relies increasingly on its own resources to fund its development, with
oil and gas sales abroad accounting for 97 per cent of exports.
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