Algiers settles early
Algeria and the Paris Club of sovereign creditors concluded on 11 May an agreement that will see Algiers pay off early its debts to the 19-member group. Under the terms of the agreement, the government will repay all of its $7,900 million debt owed to the Paris Club between June and November. The prepayments will all be made at par. Prior to the agreement, Algiers was due to repay its debt between November 2006 and 2011. However, high oil prices over the past two years have ensured ...
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