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As Taboos on IMF Aid Crumble, Algeria Remains an African Holdout

  • Bruised by ‘90s experience, country vows no recourse to lender
  • Virus, oil crash putting new strains on OPEC member’s economy

With countries across Africa shedding long-held taboos to seek International Monetary Fund help, Algeria is a rare holdout. It may need a quick recovery in oil prices or Chinese backing to stay that way.

On a continent where checkered experiences with the IMF or distaste for foreign interference has meant trepidation toward the lender, the economic havoc wreaked by the coronavirus is sparking some sudden turnarounds.