“Bader Eddine Nouioua, who served as governor of the Central Bank of Algeria from 1985 to 1989, has written a primer to explain Algerian money and banking to the public. And there is much to explain, as banking and finance are often blamed as key impediments to Algerian development. The banking system was singled out for early reform in 1986, perhaps because it was an easy target, but little happened despite the subsequent efforts of Mouloud Hamrouche’s government (1989–1991) to engage in sustained economic and political reform, even giving Algeria’s central bank important powers, at least on paper.
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