Front Matter

Front Matter

Author(s):
Nicole Laframboise, Patricia Alonso-Gamo, Alain Feler, Stefania Bazzoni, Karim Nashashibi, and Sebastian Paris Horvitz
Published Date:
August 1998
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    © 1998 International Monetary Fund

    Production: IMF Graphics Section

    Figures: Phil Torsani

    Typesetting: Alicia Etchebarne-Bourdin

    Cataloging-in-Publication Data

    Algeria: stabilization and transition to the market / Karim Nashashibi… [et al.]—Washington, DC: International Monetary Fund, 1998.

    p. cm.—(Occasional paper ; ISSN 0251–6365 ; 165)

    ISBN 1–55775-691–0

    1. Algeria—Economic conditions—1962. 2. Economic stabilization—Algeria. 3. Structural adjustment (Economic policy)—Algeria. 4. Monetary policy—Algeria. I. Nashashibi, Karim A. II. International Monetary Fund. III. Series: Occasional paper (International Monetary Fund); no. 165.

    HC815.A44 1998

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    Contents

    The following symbols have been used throughout this paper:

    • … to indicate that data are not available;

    • – to indicate that the figure is zero or less than half the final digit shown, or that the item does not exist;

    • – between years or months (e.g., 1997–98 or January-June) to indicate the years or months covered, including the beginning and ending years or months;

    • / between years (e.g., 1997/98) to indicate a crop or fiscal (financial) year.

    “Billion” means a thousand million.

    Minor discrepancies between constituent figures and totals are due to rounding.

    The term “country,” as used in this paper, does not in all cases refer to a territorial entity that is a state as understood by international law and practice; the term also covers some territorial entities that are not states, but for which statistical data are maintained and provided internationally on a separate and independent basis.

    Preface

    This occasional paper offers a review of economic developments in Algeria since the late 1980s, focusing on the period 1994–98, a time of exceptional changes for the Algerian economy that took place against a background of civil strife. Most of this paper draws on the work that was undertaken by the authors during the last four years, under-pinning the discussions between the International Monetary Fund and the Algerian authorities while a Stand-By Arrangement, followed by a three-year Extended Arrangement (which expired on May 21, 1998), were in place.

    The paper is a collaborative work directed by Karim Nashashibi, who headed the IMF missions to Algeria from mid-1993 to mid-1997. The other principal authors and mission members, who cooperated on the various sections, are Patricia Alonso-Gamo, Stefania Bazzoni, Alain Feler, Nicole Laframboise, and Sebastian Paris Horvitz. The authors would like to acknowledge the contribution of Klaus Enders and Bassirou Sarr, and the comments of Paul Chabrier, Henri Ghesquiere, and Ali Hammoudi. The paper also benefited from assistance given by officials of the Bank of Algeria, the Ministry of Finance, and the Ministry of Planning. In particular, we would like to thank Minister of Finance Abdelkrim Harchaoui, Governor Abdelouahab Keramane, Deputy Governor Mohamed Laksaci, Director General of the Treasury Mohamed Younsi, and Kemal Boumerfeg for their valuable comments. The authors would like to thank Geneviève Labeyrie and Moira Sucharov for their invaluable secretarial assistance, as well as Peter Kunzel and Saeed Mahyoub for excellent research assistance. They are also extremely grateful to Martha Bonilla of the External Relations Department for editing the manuscript and coordinating the publication.

    The views expressed here are solely those of the authors and do not necessarily reflect the opinions of IMF Executive Directors or the Government of Algeria.

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