Algeria’s black market for foreign currency underlines its economic woes | Ap
ALGIERS, Algeria (AP) — In a square near the center of Algiers, currency traders carry wads of euros, pounds and dollars, hoping to exchange them to those worried about the plummeting value of the Algerian dinar.
This black market for foreign currencies is among the signs of the economic woes plaguing Algeria. The state, reluctant to allow the exchange rate to adjust fully, has proven incapable of limiting demand among the population as confidence in the dinar remains low.
kAm%96 H:56?:?8 A2C2==6= 6I492?86 C2E6 F?56CD4@C6D 9@H 6G6CJ52J p=86C:2?D 92G6 =@DE 3FJ:?8 A@H6C 2D E96 8@G6C?>6?E 92D ;F88=65 4@>A6E:?8 AC:@C:E:6D[ ECJ:?8 E@ 4@>32E :?7=2E:@? 2?5 >2:?E2:? DE2E6 DA6?5:?8[ DF3D:5:6D 2?5 AC:46 4@?EC@=D E92E <66A A6@A=6 27=@2E]k^Am
kAmx? E96 @:=\C:49 }@CE9 p7C:42? ?2E:@?[ 3FD:?6DD @H?6CD 2C6 CF>@C65 E@ 36 5F>A:?8 E96:C 2DD6ED 2?5 D4C@F?8:?8 FA 6FC@D @? E96 3=24< >2C<6E D@ E96:C H62=E9 :D?VE DEF4<] |:55=6\4=2DD A6@A=6 2=D@ C6=J @? 6FC@D 2?5 5@==2CD E@ 3FJ E9:?8D 😕 D9@CE DFAA=J =:<6 >65:4:?6[ G69:4=6 A2CED @C 46CE2:? 7@@5D]k^Am
kAm{2DE H66<[ E96 @77:4:2= 6I492?86 C2E6 2==@H65 @?6 6FC@ E@ 36 D@=5 7@C `cd p=86C:2? 5:?2C[ H9:=6 @? E96 D2>6 52J[ 4FCC6?4J EC256CD H6C6 D6==:?8 @?6 6FC@ 7@C ?62C=J ac` 5:?2CD @? E96 3=24< >2C<6E — eeT 9:896C E92? E96 @77:4:2= 6I492?86 C2E6]k^Am
kAm#2329 q6=2>2?6[ 2 fa\J62C\@=5 C6E:C65 E62496C 7C@> p=8:6CD[ E@=5 %96 pDD@4:2E65 !C6DD E92E E96 @77:4:2= C2E6 😀 2 7:4E:@? 2?5 E92E 9:D A6?D:@? 5@6D?VE 8@ 2D 72C 2D :E FD65 E@ 😕 6:E96C 5:?2C @C 6FC@]k^Am
kAm“%96 C62= G2=F6 @7 E96 5:?2C 😀 @? E96 :?7@C>2= >2C<6E[ ?@E 😕 E96 32?<[ H9:49 FD6D 2? 2CE:7:4:2= C2E6 E@ =:6 E@ E96 AF3=:4[Q q6=2>2?6 D2:5]k^Am
kAmp=86C:2 92D =@?8 366? <?@H? 7@C 92G:?8 2>@?8 E96 C68:@?VD >@DE 4=@D65 64@?@>:6D] xE =:>:ED E96 2>@F?E @7 7@C6:8? 4FCC6?4J :ED 4:E:K6?D 42? 2446DD E@ 2 >@56DE E@FC:D> 2==@H2?46 E92E 2>@F?ED E@ =6DD E92? ?66565 E@ 42CCJ @FE @?6 @7 xD=2>VD A:=8C:>286D E@ |6442 @C G:D:E 72>:=J 😕 tFC@A6VD =2C86 p=86C:2? 5:2DA@C2]k^Am
kAm%96 8@G6C?>6?E 6DE:>2E6D C@F89=J Sf 3:==:@? H@CE9 @7 7@C6:8? 4FCC6?4J EC256D 92?5D @? E96 4@F?ECJVD 3=24< >2C<6E]k^Am
kAmuC@> k2 9C67lQ9EEADi^^2A?6HD]4@>^2CE:4=6^:?7=2E:@?\:?E6C?2E:@?2=\>@?6E2CJ\7F?5\36:CFE\=632?@?\3FD:?6DD\e7f73f6g372hb42ab6e4227cf2e`7g5fQm{632?@?k^2m E@ k2 9C67lQ9EEADi^^2A?6HD]4@>^2CE:4=6^?:86C:2\7@C6:8?\6I492?86\C2E6\?2:C2\a5_5ea34ghbdg3hdf655e_a7d_e3fed_Qm}:86C:2k^2m[ 6IA6CED H2C? E92E 92G:?8 EH@ A2C2==6= 6I492?86 C2E6D 42? 5:DE@CE 2 4@F?ECJVD 64@?@>J[ 5:D4@FC286 :?G6DE>6?E 2?5 6?4@FC286 4@CCFAE:@?] p=86C:2 92D 9:DE@C:42==J 366? C6=F4E2?E E@ =@H6C E96 @77:4:2= G2=F6 @7 E96 5:?2C[ H@CC:65 E92E 56G2=F2E:@? H:== DA:<6 AC:46D 2?5 2?86C E96 A@AF=2E:@?]k^Am
kAm%C256CD 2C6 :?E:>2E6=J 2H2C6 E92E E96 82A 36EH66? E96 @77:4:2= 2?5 3=24< >2C<6E 6I492?86 C2E6 42? ?2CC@H @C H:56? 3J E96 52J] %96J 6IA64E :E E@ DH:?8 FA 2D #2>252? 2AAC@2496D]k^Am
kAm“x? C646?E 52JD[ E96 DFAA=J @7 6FC@D 92D 366? =24<:?8[ H9:49 6IA=2:?D 9@H :E 92D D9@E FA[” EC256C }@FC5:?6 $252@F: E@=5 E96 p! 2D 96 E@@< 2 A2FD6 7C@> J6==:?8 “r92?86P” 2E A6@A=6 A2DD:?8 3J]k^Am
kAm%92E D9@CE286 >2J >2<6 AFC492D:?8 46CE2:? 8@@5D 5:77:4F=E 7@C p=86C:2?D] qFE D@>6 😕 8@G6C?>6?E 36=:6G6 :E C67=64ED E96 DF446DD @7 :>A@CE C6DEC:4E:@?D 2?5 =2HD =:>:E:?8 9@H >2?J 6FC@D 42? 36 3C@F89E :?E@ E96 4@F?ECJ]k^Am
kAmw:492> $272C[ E96 9625 @7 2 7:?2?46 4@>>:EE66 😕 E96 =@H6C 9@FD6 @7 p=86C:2VD !2C=:2>6?E[ D2:5 =2DE H66< E92E 96 “H6=4@>65” DF49 4@?46C?D] %96 8C@H:?8 492D> 36EH66? E96 @77:4:2= 2?5 3=24< >2C<6E C2E6D >62?E 76H6C 6FC@D 2C6 86EE:?8 :?E@ E96 4@F?ECJ[ 96 D2:5]k^Am
kAm“%96C6VD ?@ >@C6 @G6C492C8:?8 @? :>A@CED[” 96 D2:5 @? E6=6G:D:@? DE2E:@? t49@FC@F<[ 4:E:?8 677@CED 3J 4FDE@>D @77:4:2=D E@ 36EE6C C68F=2E6 :>A@CED E9C@F89 E96 q2?< @7 p=86C:2 2?5 >:?:>:K6 E96 FD6 @7 7@C6:8? 4FCC6?4J]k^Am
kAmu@C 564256D[ DE625J C6G6?F6 7C@> @:= 2?5 82D 2==@H65 p=86C:2 E@ :>A@CE 6G6CJE9:?8 7C@> E@@E9A:4<D E@ :?5FDEC:2= >249:?6CJ] %96 4@F?ECJVD =2C86 :>A@CE >2C<6E 4@?46?EC2E65 64@?@>:4 A@H6C 😕 E96 92?5D @7 2 D>2== 8C@FA @7 3FD:?6DD>6? <?@H? E@ @G6C3:== 4=:6?ED 2?5 DE2D9 AC@7:ED 23C@25[ :?4=F5:?8 😕 tFC@A62? 2?5 t>:C2E: 32?<D]k^Am
kAm$:?46 !C6D:56?E k2 9C67lQ9EEADi^^2A?6HD]4@>^2CE:4=6^2=86C:2\E633@F?6\6=64E:@?\gd7bhh35e72f234ch“2`fe2hh5cf3hhQmp356=>2;:5 %633@F?6k^2m E@@< A@H6C[ E96 4@F?ECJ 92D k2 9C67lQ9EEADi^^2A?6HD]4@>^86?6C2=\?6HD\_3d__bg6fcffc5`52a_52e3g465hhgd2QmE2C86E65k^2m E96 D@\42==65 “@=:82C49D[Q :?4=F5:?8 3FD:?6DD6D 24E:G6 😕 :>A@CED] %9C@F89@FE 9:D E6?FC6[ E96 4@DED @7 32D:4 8@@5D 😕 p=86C:2? 5:?2CD 92G6 DHF?8 2?5 :>A@CED 92G6 366? 7FCE96C =:>:E65]k^Am
kAmp=86C:2 6>6C865 2D 2? k2 9C67lQ9EEADi^^2A?6HD]4@>^2CE:4=6^CFDD:2\F<C2:?6\27C:42\:E2=J\2=8:6CD\5acg3eg7e5`ff`c66g4634532a6bh564QmF?6IA64E65 36?67:4:2CJk^2m @7 E96 H2C 😕 &<C2:?6[ 2D 6?6C8J AC:46D C@D6 2?5 tFC@A6 D@F89E ?@?\#FDD:2? DFAA=:6CD @7 @:= 2?5 82D] qFE E96 4@F?ECJ 92D 6IA6C:6?465 7@@5 4C:D6D 2?5 C:D:?8 2?86C 2D E96 AC:46D @7 ?646DD:E:6D =:<6 49:4<6?[ 4@@<:?8 @:= 2?5 =68F>6D 92G6 C:D6?]k^Am
kAmt4@?@>:DE z2C:> p==2> D2:5 E96 DEC6?8E9 @7 E96 6FC@ 925 H@C<65 E@ p=86C:2VD 56EC:>6?E[ 4FEE:?8 :?E@ E96 AFC492D:?8 A@H6C @7 E9@D6 H9@ >2<6 >@?6J 😕 5:?2CD] w6 😀 D<6AE:42= @7 E96 :562 E92E 2 D9@CE286 @7 7@C6:8? 4FCC6?4:6D C67=64ED E96 8@G6C?>6?EVD DF446DD[ 3FE 2=D@ 5@F3ED E92E 3FD:?6DD A6@A=6 2C6 7=66:?8 E96 4@F?ECJ 😕 5C@G6D @C D6?5:?8 >@?6J 23C@25]k^Am
kAm“x 5@?’E E9:?< E96J’== E2<6 E96 C:D< @7 D>F88=:?8 4FCC6?4J @FE @7 E96 4@F?ECJ[ H9:49 😀 4@?D:56C65 2? 64@?@>:4 4C:>6 AF?:D923=6 3J a_ J62CD’ :>AC:D@?>6?E[” 96 D2:5]k^Am
kAm#682C5=6DD[ E96 72==:?8 G2=F6 @7 E96 5:?2C @? E96 3=24< >2C<6E 😀 @?6 :?5:42E@C @7 9@H p=86C:2?D 4@?E:?F6 E@ =@D6 AFC492D:?8 A@H6C 56DA:E6 8@G6C?>6?E2= 677@CED E@ DE23:=:K6 E96 64@?@>J H9:=6 <66A:?8 8@G6C?>6?E DA6?5:?8 2?5 DF3D:5:6D 9:89]k^Am
kAm“x?7=2E:@? 92D 56DEC@J65 E96 3FJ:?8 A@H6C @7 p=86C:2?D[ H9@ 2C6 72==:?8 :?E@ A@G6CEJ] %96 5:?2C 92D 364@>6 H@CE9=6DD[” D2:5 q6=2>2?6[ E96 C6E:C65 E62496C]k^Am
Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.
