Maghreb Edition

Algeria: Central Bank seeks to appease growing public fear over capital flight as political crisis persistsF

Posted On 26 March 2019

Number of times this article was read : 431

There has been growing public fear over regime operatives moving money from Algeria to foreign banks. Rumors have been circulating that several businessmen tied to the regime, including the Kouninef brothers, have contracted multi-million dollar loans over the past week, just to place it abroad in secured account as the political crisis continues. The rumor stated that authorizations to transfer loans were granted by the Central Bank proper.

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