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Algeria to Contribute $5 Billion to IMF Through SDRs, APS Says

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Oct. 11 (Bloomberg) -- Algeria will contribute $5 billion to the International Monetary Fund through the purchase of Special Drawing Rights, the state-run APS news agency reported today, citing a statement by the Finance Ministry and the Bank of Algeria.

The North African nation’s foreign-exchange reserves reached $193.7 billion at the end of September, Prime Minister Abdelmalek Sellal said on Oct. 1.

To contact the reporter on this story: Salah Slimani via Cairo at sslimani2@bloomberg.net

To contact the editor responsible for this story: Andrew J. Barden at barden@bloomberg.net