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Algeria's Economic Doomsday Clock Ticks Even Faster After Revolt

  • OPEC member has failed to diversify economy, attract investors
  • Capital Economics sees Algeria reserves depleted in four years
People celebrate after President Abdelaziz Bouteflika informed the Constitutional Council that he is resigning, in Algiers on April 2.

People celebrate after President Abdelaziz Bouteflika informed the Constitutional Council that he is resigning, in Algiers on April 2.

Photographer: Ryad Kramdi/AFP via Getty Images

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Whoever replaces Algeria’s President Abdelaziz Bouteflika, ousted by weeks of protest, will inherit another crisis-in-the-making: the economy.

Even before hundreds of thousands of Algerians began their campaign for political change, the government had only a few years worth of foreign currency reserves left. With the OPEC member heading into uncharted territory after Bouteflika resigned on Tuesday, the clock to financial upheaval is now ticking faster.