BREAKING: Algeria President Sacks Central Bank Governor

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Algeria President Sacks Central Bank Chief

Sacks Central Bank Governor

Algerian President declared on Monday that central bank president , who had been in office for less than two years, had been fired.

Tebboune “on Monday ended the activities of Mr. Rostom Fadli, Governor of the Bank of Algeria, and appointed Mr. Salah Eddine Taleb to replace him,” according to a statement.

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Fadli was appointed interim head of Africa’s fourth-largest economy in June 2020, and was later confirmed in the position.

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Algeria is a rentier economy that relies on oil exports for 90% of its foreign income, making it subject to price fluctuations.

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Despite seeing those income skyrocket in recent months as a result of the energy crisis brought on by Russia’s invasion of Ukraine, the North African country has also been stung hard by price increases on essential wheat imports.

That is the latest Foreign News Today on Algeria President Sacks Central Bank Governor.

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