Algiers – Minister of State, Minister of Hydrocarbons and Mines, Mohamed Arkab, received a delegation from the International Monetary Fund (IMF) today. The meeting took place as part of the IMF’s annual Article IV consultations with Algeria, according to a statement released by the ministry.
The IMF delegation was led by Charalambos Tsangarides, the Fund’s mission chief for Algeria. Discussions focused on the current state of Algeria’s economy, particularly in the hydrocarbons and mining sectors. The consultations provide an opportunity for the IMF to assess Algeria’s economic and financial policies and offer recommendations for sustainable growth.
Minister Arkab highlighted Algeria’s ongoing efforts to diversify its economy and reduce its dependence on hydrocarbons. He emphasized the importance of developing the mining sector and attracting foreign investment to create new jobs and boost economic activity. The minister also outlined the government’s commitment to implementing structural reforms to improve the business environment and enhance competitiveness.
The Article IV consultations are a regular part of the IMF’s surveillance activities, providing a comprehensive overview of member countries’ economic performance and policies. The discussions with the Algerian government are expected to contribute to a better understanding of the country’s economic challenges and opportunities. The IMF’s assessment and recommendations will be published in a report following the conclusion of the consultations.
The Ministry of Hydrocarbons and Mines confirmed that further details regarding the specific topics discussed during the meeting will be released in due course. This meeting underscores the ongoing dialogue between Algeria and the International Monetary Fund regarding the nation’s economic trajectory.
