IMF calls on Algeria to diversify income sources

The International Monetary Fund (IMF) called on Friday for Algeria to diversify its income sources, fearing it would be affected by the decline in oil prices, Ennaharonline.com has reported. According to the IMF, the stability of the prices of basic commodities enables parties to review their capital arrangements and continue financial reforms.

The Fund expressed its concerns about the dangers resulting from the decline in oil prices in the mid-term, predicting that this might create financial crises for the countries dependent on oil exports.

Meanwhile, the Group of 24 held its 98th meeting in Washington and discussed the impact of development on the global economy. The “G24” was established in 1971 to coordinate the positions of emerging markets and developing countries on international monetary and development finance issues and to ensure that their interests are adequately represented in the Development Committee meetings of the IMF and World Bank.