Algeria News & Events, Latest News for Algeria

Update: Tuesday, 6 January 2009    

Algeria calls for supporting the developing countries’ representation

Laksaci before the IMF financial committee
Tuesday Sep 19 2006.

During the meeting of the IMF Financial committee, and on behalf of Algeria, Algeria Bank Governor Mr. Mohamed Laksaci called yesterday for backing the representation of developing and low income countries.

He also called for proceeding to a global reform in the field. He indicated that the reform can consolidate credibility of the IMF.

As part of both annual assemblies of the IMF and the World Bank due today and tomorrow, He indicated, on behalf of the region he represents and which includes Afghanistan, Algeria, Ghana, Iran, Morocco, Pakistan and Tunisia, the recommendations the meeting of the Group 24 held last Saturday. He considered that “the design of the reforms will comply with the Monteri agreement unless the new formulation of the quorum reflects the growing role of the developing countries in the world economy.”

Mr. Laksaci suggested tripling the basic vote right to ensure a kind of equilibrium for the benefit of the least developed countries and prevent exclusion policies

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