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FINANCIAL NEWS
Algeria’s CB reports 2.2% rise in foreign exchange reserves
12 Sep 2012
(MENAFN) Algeria’s Central Bank’s Governor, Mohamed Laksaci, stated that at the end of June, the country’s foreign exchange reserves rose by 2.2 percent compared with the end of last year, reported Xinhua News citing local media.
Laksaci said that in the period, the reserves hit USD186.32 billion, up from USD182.22 billion at the end of 2011.
The country managed to slash its external debt to USD3.99 billion in June, down from nearly USD4.4 billion in late December.
The governor said that in the first half of the year, net inflows of foreign direct investment (FDI) were a little less than USD1 billion, whereas the overall amount of the balance of payments was at USD10.32 billion.
It is worth noting that in the January-June period, Algeria’s external current account posted a surplus of USD10.8 billion.
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