BY: Hana Saada
ALGIERS- A delegation from the International Monetary Fund (IMF), led by Mr. Chris Geiregat, met with the Finance and Budget Commission of the People’s National Assembly (APN) in Algeria on Wednesday, as announced in a statement by the APN.
During the meeting, Commission President Saad Baghidja presented to the IMF delegation the comprehensive financial and budgetary reforms initiated by Algeria in line with the commitments of President Abdelmadjid Tebboune. He highlighted one of the crucial aspects of these reforms, emphasizing the preparation of budget laws based on programs. Baghidja specified that the 2024 budget bill aims to promote investment, sustain economic growth, and safeguard citizens’ purchasing power.
According to the APN statement, the head of the IMF mission confirmed that the meetings with officials from the Ministry of Finance and the Bank of Algeria were “very fruitful.” He commended the new approach adopted in the elaboration of budget laws, considering it a significant achievement.
The IMF representative also inquired about the various measures taken to develop the monetary, banking, and financial sectors. Members of the Finance Commission reviewed the measures that immunized Algeria against the risks of budgetary financing weakness, highlighting the country’s commitment to diversifying its sources of funding.
The engagement with the IMF reflects Algeria’s dedication to financial reforms and its efforts to strengthen economic resilience, attract investments, and ensure sustainable fiscal policies. The positive acknowledgment by the IMF signals international recognition of Algeria’s commitment to sound economic governance.
