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Algeria also seeks to settle its trade debts so as it can benefit from the financial comfort, Finance Minister Mr. Mourad Medelci mentioned. Algeria usually pays cash for most of trade transactions yet 18% is settled through credits. Algeria will go through exhaustive negotiations with creditors before the end of the year in order to come up to an agreement of Algeria trade debts pre-payment in 2007, this decision comes after Algeria succeeded in the payment of all its debts with Paris and London Clubs, thus public debts has been reduced to around 5 billion Dollars of which 90% consist in mid and long term loans. Noteworthy that Algeria is focusing now on the self-funding without resorting anew to indebtedness a fact likely to allow maintaining debts in their current value during 2007 | ||||||||||||||||||
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Algeria striving to pre-pay its trade debts