The Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, praised the progress Algeria has made in recent years in promoting investment, digitalization, and boosting non-hydrocarbon exports. Speaking ahead of her participation in an international economic conference in Algiers organized in partnership with the Bank of Algeria, Georgieva said: “We welcome the progress Algeria has recently made in strengthening investment and improving the business environment through the adoption of the Investment Law and the Real Estate Law, and the establishment of the Algerian Investment Promotion Agency, in addition to the steps taken in the digitalization of public administration.”
She noted that these efforts were accompanied by progress in increasing non-hydrocarbon exports, which have more than doubled over the past five years. She added that the Algerian economy “has recovered well since the COVID-19 pandemic, particularly in terms of growth rates, supported by significant public investments, while inflation rates have declined.”
She also pointed to the priority given by the Algerian authorities to investment in digital infrastructure as well as infrastructure for the transport and energy sectors. Georgieva explained that Algeria faces “both opportunities and challenges,” stating that “rapid technological development aligns with Algeria’s efforts in digitalization, and the reorganization of global supply chains opens new horizons for attracting investment and expanding trade prospects,” alongside significant potential in renewable energy, including solar energy and green hydrogen.
In the same context, she noted that public policies and investments that expanded internet access have effectively contributed to strengthening the ecosystem for startups. She also considered that government investments in ports, railways, and logistics are capable of reducing trade costs and delays, thereby improving Algeria’s integration into regional and global value chains.
The IMF Managing Director mentioned that Algeria’s efforts in the fields of hydrocarbons and renewable energy qualify it to play a pivotal role as a regional energy hub through electrical interconnection, renewable energy generation, and emerging green hydrogen projects.
Georgieva pointed out that the conference comes at a time when regional cooperation is more important than ever, adding that in “a world of rising geopolitical risks, changing trade patterns, and the reshaping of global supply chains, strengthening economic integration among North African countries would help build resilience and achieve more sustainable and diversified growth.”
Regarding her first visit to Algeria on the occasion of the international economic conference, Georgieva explained that it “constitutes an opportunity to deepen the partnership between Algeria and the IMF in light of the strong economic performance Algeria has recently achieved.”
Reference: link
