Algeria was left with $62bn of foreign currency reserves at the end of 2019 after burning through a whopping $18bn during a year in which the country continued to rack up huge deficits (MEES, 11 November 2019).
If Algeria carries on at this rate it will have completely depleted its reserves in 2024. Worryingly, there are no signs the country is anywhere near balancing the books. In 2020, it plans a 12th straight fiscal deficit of AD1.53tn ($12.9bn). (CONTINUED - 153 WORDS)