Algeria has become a full member of the European Bank for Reconstruction and Development (EBRD), a London-based multilateral lender, in a move that signals a shift to more openness and transparency in its economy.

Infamously wary of almost anything foreign, the move marks one of the country’s first steps in its stated desire to bring in more outside investment. Policymakers say they want to rapidly diversify away from a heavy reliance on oil and gas revenues (MEES, 15 October). (CONTINUED - 147 WORDS)