Econostrum | Economic News in the Mediterranean

Algerian president sacks finance minister

Written by Eric Apim on Thursday, June 16th 2022 à 15:20 | Read 424 times

Abderrhamane Raouya must leave his post (photo: Algerian Ministry of Finance)
Abderrhamane Raouya must leave his post (photo: Algerian Ministry of Finance)
ALGERIA. Algerian President Abdelmadjid Tebboune decided on Tuesday 14 June 2022 to dismiss by decree his Minister of Finance. Abderrahmane Raouya had only been in office for less than four months. The sixty-one year old politician had been appointed on 17 February 2022 to succeed Aymen Ben Abderrahmane who held this portfolio while being Prime Minister.

Abderrahmane Raouya had already held the post of Finance Minister twice before from January 2020 to June 2020 and from May 2017 to March 2019.

In its statement, the Algerian presidency does not specify the reasons for this sudden eviction. In April 2022, Abdelmadjid Tebboune had said that "some ministers have failed in their duties" and that he would not hesitate to carry out a ministerial reshuffle. "The norm is the rate of implementation of decisions taken during the Council of Ministers," he said.

This departure comes only a few days after the publication of a note by the Association of Banks and Financial Institutions (ABEF) on the freezing of direct debits for foreign trade operations of products from and to Spain. This is a direct consequence of the suspension of the Treaty of Friendship, Good Neighbourliness and Cooperation signed in October 2022 between Algiers and Madrid.

The governor of the Central Bank to be dismissed in May 2022

The Secretary General of the Ministry of Finance, Brahim Djamel Kessali, was appointed to act as interim governor until the appointment of Abderrahmane Raouya's successor.

On 23 May 2022, the Algerian President had already dismissed Rosthom Fadli, the governor of the Central Bank of Algeria. He was appointed less than two years ago (September 2020) to replace the departure of Aymen Ben Abderrahmane, who was appointed Minister of Finance and served from June 2020 to February 2022. Before leaving his place in government to his predecessor who also became his successor, Abderrahmane Raouya. Aymen Ben Abderrahmane has been Prime Minister since 30 June 2021.

Rosthom Fadli was immediately replaced by Salah Eddine Taleb, until then Secretary General of the Currency and Credit Council (CMC).

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