Le Gouverneur de la BA acclame une action internationale

BA Governor calls for international action

imfc 52nd meeting of the International Monetary and Financial Committee

Participating in the 52nd meeting of the International Monetary and Financial Committee (IMFC), which was held on October 16 and 17 in Washington in the United States, and speaking on behalf of a group of countries, the Governor of the Bank of Algeria (BA), Salah-Eddine Taleb, recalled the numerous challenges, of the digital, climatic, economic and demographic order, which the world community is facing, and called, on the other hand, the need to strengthen multilateralism and international cooperation to address the growing uncertainties weighing on the global economy. As part of the Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group, the Governor of the Bank of Algeria (BA), indicated, the day before yesterday Saturday from Washington, that the world economy is entering a new phase marked by strong uncertainty, linked in particular to demographic aging, digital transformation and climate change, all factors which redefine economic structures and influence growth and distribution of income. In his speech, the Governor of the Bank of Algeria warned of high debt levels and changes in the international economic order increasing risks,
“making the long-term outlook more uncertain,” he said. Despite its current resilience, global growth remains sluggish, hampered by tariff shocks, persistent geopolitical tensions and economic policy uncertainties, said Salah-Eddine Taleb who, he adds, “these developments complicate efforts to stimulate employment, reduce poverty and restore budgetary margins”.
Speaking of inflation, although gradually declining, the Algerian representative and a group of countries estimated that it remains above the targets set in several economies. The BA Governor noted that the outlook remains downward, notably due to the risk of escalation of conflicts and a tightening of international financial conditions. While advances in digital and diplomatic matters are positive elements, they are not enough to counterbalance the risk factors. Referring to the Middle East, North Africa, Afghanistan and Pakistan (Moanap) region, the Governor of the Bank of Algeria noted that emerging and developing economies are already suffering the effects of the global slowdown and trade tensions. On the other hand, Salah-Eddine Taleb warned of the instability of global oil and gas prices which, according to him, could weaken the external and budgetary balances of countries, calling, in this sense, to continue efforts at economic diversification.
S.Abi