2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Algeria


2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Algeria

Relations with the Fund

(As of May 4, 2018)

Membership Status: Joined: September 26, 1963; Article VIII.

General Resources Account

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SDR Department

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Outstanding Purchases and Loans


Financial Arrangements (In millions of SDR)

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Projected Obligations to Fund

(SDR million; based on existing use of resources and present holdings of SDRs):

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Implementation of HIPC Initiative: Not Applicable.

Exchange Rate Arrangement

From January 21, 1974 to October 1, 1994, the exchange rate of the dinar was determined on the basis of a fixed relationship with a basket of currencies, adjusted occasionally. On October 1, 1994, the Bank of Algeria introduced a managed float for the dinar through daily fixing sessions that included six commercial banks. This system has been replaced by an interbank foreign exchange market as of January 2, 1996. On May 5, 2018, the average of the buying and selling rates for the U.S. dollar was US$ 1 = DZD 115.33, equivalent to SDR 1 = DZD 165.09. No margin limits are imposed on the buying and selling exchange rates in the interbank foreign exchange market, except for a margin of DA 0.015 between the buying and selling rates of the Bank of Algeria for the dinar against the U.S. dollar.

The de jure exchange rate arrangement is managed floating and the de facto exchange regime is classified as other managed arrangement with no preannounced path for the exchange rate. Algeria maintains an exchange system free from restrictions on the making of payments and transfers for current international transactions.

Article IV Consultation

Algeria is on a 12-month consultation cycle. The last Article IV consultation was concluded by the Executive Board on May 11, 2017 (IMF Country Report 17/141). The discussions for the 2018 Article IV consultation were held in Algiers from February 27 to March 12, 2018.

Technical Assistance

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Financial Sector Assessment Program

Algeria first participated in the FSAP in 2003. The FSAP was updated in 2007 and in 2013. The Executive Board discussed the Financial System Stability Assessment on January 24, 2014 (IMF Country Report No. 14/161). An FSAP update is scheduled for 2019.

Resident Representative


Relations with the World Bank Group

JMAP Implementation, FY18

(As of Feb 26, 2018)

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Statistical Issues

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Algeria: Table of Common Indicators Required for Surveillance

As of March 28, 2018

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Any reserve assets that are pledged or otherwise encumbered should be specified separately. Also, data should comprise short-term liabilities linked to a foreign currency but settled by other means as well as the notional values of financial derivatives to pay and to receive foreign currency, including those linked to a foreign currency but settled by other means.

Both market-based and officially determined, including discount rates, money market rates, rates on treasury bills, notes, and bonds.

Foreign domestic bank, and domestic nonbank financing.

The general government consists of the central government (budgetary funds, extra budgetary funds, and social security funds) and state and local governments.

Including currency and maturity composition.

Includes external gross financial asset and liability positions vis-à-vis nonresidents. Data are partial, because of shortcomings in the compilation of FDI.

Daily (D), Weekly (W), Monthly (M), Quarterly (Q), Annually (A); Irregular (I); and Not Available (NA), Partially available (PA)