Algeria – The Director General of the Arab-African Center for Investment and Development (CAAID), Amine Boutalbi, dealt this Friday, April 02nd, 2021, with several subjects relating to Algerian dinar banknotes, the parallel currency market and the weekend practiced in the country since 2009.
Indeed, the CEO of CAAID was invited to the airwaves of Radio de Sétif , this Friday. Amine Boutalbi, in this case, seized the ball to take stock of the current economic situation of the country. He thus wanted to clarify several gray areas around the questions concerning the modification of the weekend, the change of Algerian dinar banknotes as well as the parallel currency market in Algeria.
Regarding the size of the informal market for hard currencies, the speaker held a speech similar to those of economic experts for several weeks. He then said he was in favor of changing banknotes. This operation, he stipulates, will compensate for the colossal losses on the squares.
“The tickets must be changed in order to regain the money accumulated on the parallel markets.” This is indeed what Amine Boutalbi formally underlined. The latter evoked, in this sense, the return to the universal weekend (Saturday, Sunday). As it is adapted in several countries of North Africa, in particular in Morocco and Tunisia.
What means to increase economic cooperation?
The weekend adoption is, according to the speaker, adequate for international economic and financial relations. “It does not matter to go from Friday-Saturday to Saturday-Sunday “. Truth be told, the Managing Director offers any other suggestion for strengthening trade and investment.
Amine Boutalbi expressed the need to reconsider our economic model. In order to consolidate financial cooperation, the speaker considers it beneficial to release the relevant initiatives. We must, he recalls, avoid any policy of confinement.
The guest of the radio station indicated that Algeria must show economic and intellectual liberalism, far from it. This is also what the CEO of CAAID reported. He also assured of one thing. Amine Boutalbi then let it be known that the country currently lacks resources. A budgetary need which represents a considerable obstacle to constitute an alternative, dynamic and mobile economy .
Ultimately, the DG specified that the economic recovery plan will have several positive and stimulating elements for the national economy. The official listed the banks wishing to invest in Algeria . He mentioned the IDB, ADB and the Export Bank of China. All three aspire to improve their financial structure by setting up in the country. This will help put our economy back on track for growth, says Boutalbi.
