Algiers – Minister of State, Minister of Hydrocarbons and Mines, Mohamed Arkoub, received a delegation from the International Monetary Fund (IMF) on Thursday, led by Charalambos Tsangarides, the IMF’s mission chief for Algeria. The meeting took place as part of the annual consultations conducted by the IMF with Algeria under Article IV.
The meeting, attended by ministry officials and a representative from the Bank of Algeria, featured a comprehensive presentation by Minister Arkoub on the development program for the hydrocarbons and mining sectors, highlighting the profound transformations underway in the regulatory framework governing energy and mining activities.
Arkoub emphasized the pivotal role of these sectors in diversifying the national economy, fostering growth, and meeting the needs of the domestic market for various petroleum and gas products. He underscored the importance of ensuring the country’s long-term energy security and contributing to the stability of international energy markets.
The Minister further explained that the sector’s development policy is based on a strategic vision spanning the short, medium, and long term, aimed at enhancing the value added of the country’s resources, improving production efficiency, and developing manufacturing industries. The ministry is also actively supporting the transition towards a clean energy economy by reducing gas flaring and methane emissions, developing carbon capture projects, and promoting the circular economy.
Arkoub also presented key ongoing and future projects in the hydrocarbons and mining sectors, including significant progress on the Amizour zinc and lead project, the Gara Djebilet iron ore project, and the Integrated Phosphate Project (PPI), which is poised to make Algeria a major regional producer and exporter of phosphate and nitrogen fertilizers.
The Minister also highlighted the seawater desalination program, which currently comprises 19 plants with a capacity of 3.8 million cubic meters per day. A new program to construct six additional plants with a total capacity of 1.8 million cubic meters per day has been launched, aiming to increase the coverage of national demand to 60% by 2030.
Discussions also focused on ways to enhance technical cooperation, particularly with international partners, and to improve the focus on clean energy sources. Arkoub affirmed Algeria’s potential to become a reliable supplier of low-carbon energy, particularly through green hydrogen projects. The head of the IMF delegation expressed appreciation for the detailed presentation provided by the Minister.
