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ALGIERS- Bank of Algeria said Tuesday its committee on monetary policy operations has decided to take new measures to strengthen bank resources.

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ALGIERS- The overall balance of payments deficit fell by almost 57% during the first quarter of 2020, down from $ 5.9 billion to $ 2.5 billion in the same quarter of 2019, said a statement of the Bank of Algeria in a statement.

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ALGIERS- The Committee of Monetary Policy Operations (COPM) of the Bank of Algeria decided new measures aimed to strengthen bank liquidity, according the Bank’s communiqué.

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ALGIERS- Governor of the Bank of Algeria (BA) Aïmene Benabderrahmane, called for strengthening regional collaboration to counter the repercussions of the Coronavirus pandemic that has invaded the whole world.

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ALGIERS- The International Monetary Fund (IMF) must increase its resources and capacities to strengthen actions in support of the global fight against the coronavirus pandemic, said the Bank of Algeria Governor (BA), Aïmene Benabderrahmane, as quoted in a press release from the Central Bank.

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ALGIERS – The Bank of Algeria (BA) announced on Tuesday a series of exceptional and cyclical measures allowing financial establishments and banks to increase their financing capacities in favor of economic companies impacted by COVID-19.

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 ALGIERS- The Bank of Algeria’s Monetary Policy  Committee (MPC) has decided to lower, starting from this sunday, its policy rate by 3.25% and the reserve requirement rates by 8%, as stated by the bank of Algeria.

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ALGIERS- Bank of Algeria has detected "fraudulent practices" in two branches of the Bank of Agriculture and Rural Development (BADR), banking sources told APS on Monday.

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ALGIERS- The Governor of the Bank of Algeria (BA), Aïmen Benabderrahmane called on Monday the local banks to make financial inclusion their major and daily challenge in order to be able to capture the significant unbanked savings.

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ALGIERS- The process initiated in 2019 for the appointment of independent directors within the executive boards of state-owned banks will be "maintained" and enriched with a "more constructive approach," offering a "better visibility," the governor of the Bank of Algeria (BA), Aimen Benabderrahmane, told APS on Monday.

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