Public Management

Algeria will import pharmaceutical products for 100mln

Algeria will import pharmaceutical products for 100mln
Monday, 23 March 2020 16:48

Algeria will spend $100 million to buy pharmaceutical products to have enough stock to face the novel coronavirus pandemic. The announcement was recently made by the President, Abdelmadjid Tebboune (pictured).

This amount will be used to “accelerate the importation of all pharmaceutical products in sufficient quantities, and even more protective equipment and chemical analysis (testing) kits, with the involvement of [Algerian] diplomatic missions in the search for their exporters across the world,” APS reports. The government is expecting another $132 million from the IMF and the World Bank.

With more than 139 recorded cases, Algeria is one of the most affected countries on the continent. Since the beginning of the pandemic, the government has adopted a series of measures to slow the spread of the virus and mitigate its effects. Budget spending will be reduced by 30% (without affecting charges and salaries) while the country's import bill will drop from $41 billion to $31 billion.

Since March 22, 2020, Algeria has officially entered stage 3 of the pandemic, which means that from now on, the virus is actively circulating in the country.

Moutiou Adjibi Nourou

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
FCMB Group has raised capital to meet the Central Bank of Nigeria’s new requirements. The recapitalization combined a public share offer and a partial...
IFC plans a guarantee facility of up to $50 million for Nairobi-based reinsurer ZEP-RE. The mechanism aims to strengthen the company’s credit...
An IMF delegation completed a 10-day mission in Libreville to review Gabon’s economic situation. The institution welcomed recent reforms but urged...
BGFIBank Côte d’Ivoire increased its capital to CFA60 billion ($106 million). The move follows a similar capital increase at BGFIBank Cameroon. The...
Most Read
01

Military escalation between Iran, Israel, and the United States has raised the risk of disruptions...

As Hormuz and Suez Tensions Escalate, Africa Faces a Potential Energy and Trade Shock
02

Ethio Telecom has signed a new agreement with Ericsson to expand and modernize its telecom netwo...

Ethiopia’s State-Owned Telco Teams Up With Ericsson to Expand and Upgrade Its Network
03

Central Bank of Nigeria said 20 commercial banks have met new minimum capital requirements, with...

Nigeria Advances Banking Reform With Strong Recapitalization Progress
04

Senegal launches 200 billion CFA bond in UEMOA Proceeds to fund 2026 budget, transformation agend...

Senegal Launches $360 Million Regional Bond Sale
05

The BCEAO cut its main policy rate by 25 basis points to 3.00%, effective March 16. Inflation...

BCEAO Cuts Key Rate to 3.00% as WAEMU Faces Deflation
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.