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Algeria to Lean on Central Bank to Plug Deficit Amid Oil Slump

  • Government averse to tapping international markets for funds
  • Plan to borrow from regulator risks stoking inflation
Bloomberg business news

Does OPEC Have Any Fight Left in It?

Algeria’s prime minister laid out a sweeping plan to plug the budget deficit that would include direct borrowing from the central bank, as the OPEC member looks to compensate for lower oil revenue without tapping international debt markets.

The five-year plan presented by Prime Minister Ahmed Ouyahia aims to balance the budget by 2022, and reverse a deficit that ballooned with the plunge in global crude prices, which also cut foreign reserves by nearly half.