Brussels, 27/04/2012 (Agence Europe) - The Algerian government is to consider the IMF's request that it contribute to boosting the lending capacity of the international financial institution, Economic Planning and Statistics Minister Hamid Temmar said in Algiers on 26 April. This piece of news should be seen in the context of the crisis which is affecting both Europe, in need of capital, and the southern rim of the Mediterranean, where the recent political upheavals mean that firm support has to be found to create jobs and ensure the development of economies. At a meeting in the IMF in Washington on Saturday 21 April the governor of the Bank of Algeria, Mohamed Laksaci, called for international financial and technical support for the Arab countries which are going through political change in light of their great social needs and the necessity of restoring economic stability.
No decision has yet been taken on the response to be given to the IMF request, local media report. “It is for the government to determine if this is the right time for such investment”, said Temmar. He pointed out that the IMF request was an indication of the change in Algeria's circumstances, from being a borrower from the IMF in the 1990s to being a net contributor. Algeria's financial surplus could be as much as $205.2 billion by the end of 2012, according to the same sources. (FB/transl.rt)