Algeria exasperates with lack of consistency
Options for excess billions
Bogged down by petrobucks
What we lack most, say Algerians, is technological capacity. This was hardly helped, as far as the banks are concerned, with the calling off of the privatization of the third-biggest bank, Crédit Populaire d’Algérie, at the end of 2007.
Because of the scandal surrounding the 2003 collapse of Khalifa Bank, there are no longer any indigenous privately owned banks in Algeria. State banks control 90% of banking assets.
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