2024年阿尔及利亚对外债务创六年新低

Core Insights - Algeria's external debt is projected to decrease to $2.87 billion by the end of 2024, the lowest level since 2019, reflecting a reduction of approximately $0.962 billion from $3.832 billion in 2019 [1] - The Algerian government is committed to a cautious financial policy and proactive debt management to reduce reliance on international financing and strengthen financial sovereignty [1] Debt Structure - Both long-term and short-term debts have decreased, with long-term debt falling from $1.568 billion in 2019 to $1.114 billion in 2024, representing a decrease in its share from 40.9% to 38.8% of total debt [1] - Short-term debt has decreased from $2.264 billion to $1.756 billion, with its share increasing to 61.2%, indicating that Algeria's external debt remains primarily composed of short-term commercial financing [1] Loan Sources - Multilateral loans from institutions like the IMF and World Bank have decreased from $1.009 billion in 2019 to $0.718 billion in 2024, with their share dropping from 26.3% to 25.0% [2] - Bilateral loans have seen a more significant decline, falling from $0.385 billion to $0.130 billion, with their share decreasing from 10.1% to 4.5% [2] - Support from parent companies to subsidiaries in Algeria has increased from $0.130 billion in 2019 to $0.254 billion in 2024, indicating that multinational companies continue to support their operations in Algeria through direct investment [2] Strategic Implications - Algeria has been pursuing a "de-leveraging" strategy since 2019, leading to a continuous decline in external debt and a significant adjustment in debt structure, particularly with a reduced proportion of multilateral and bilateral loans [2] - This debt reduction strategy enhances financial autonomy and mitigates external risks, while the increase in foreign companies' support for their subsidiaries suggests that Algeria still maintains a certain level of attractiveness for foreign investment [2]