Energy windfall improved Algeria's economic position, says IMF

Higher energy prices have "materially improved" the Algerian economy's near-term outlook, the International Monetary Fund (IMF) said on Monday, adding that fiscal rebalancing is still needed to put public finances on a sound footing.

Tighter monetary policy is required to contain inflation and continued progress on structural reforms would help to diversify the economy and spur job creation, the IMF added after completing Article IV talks in Algiers.