Algeria: collapse of oil prices in international markets

2020-03-11 04:46:18

(MENAFN) On Tuesday, urgent actions against the fall of oil prices in global markets were approved by Algerian President Abdelmadjid Tebboune.

The Algerian presidency said in a statement that, the actions include organizing an additional budget, establishing Islamic banks and refusing any external borrowing.

The statement added that, a working gathering was made earlier in the day and chaired by Tebboune, with the cabinet members led by Prime Minister Abdelaziz Djerrad and the central banker Ayman Benabderrahmane.

The gathering was committed to "assessing the economic situation" in Algeria after the oil price fall in global markets "due to the global economic slowdown as a result of the spread of the coronavirus."

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