Back in the fold?

News from Algeria tends to focus on the political violence and economic sabotage caused by Islamic opposition groups. Recently, however, the country’s high-yielding debt has also been attracting attention. Following the long-awaited conclusion of a rescheduling agreement with the London Club of commercial bank creditors in August, Algeria has become a beneficiary of the increasing thirst for exotic risk.

Debt traders see the London Club accord as a vote of confidence by creditors and it has triggered interest in Algerian paper.