In a situation of scarcity of resources to finance structural projects, mainly because of lower oil prices, Algeria is obliged to look for other ways instead of funding publics.Face to this new situation, recourse to external financing is offered as an alternative, but it is not any funding. Parties economic and political experts have presented to date the risk for Algeria, if it goes back to global financial institutions and raising the specter of debt with its economic and political implications.
Given the experience with the IMF in 1990, the highest authorities of the country should think twice before so agir.C'est at this time that the Chinese option provides the effect Algérie.En according to a Chinese diplomatic source, the former Middle Kingdom has proposed to the Algerian government loans and technical assistance for the management of projects currently under way or those planned under five 2015-2019.Pour the moment, the government Algeria has neither accepted nor rejected this option, adds the Our source.
This is all the more plausible. Chinese companies present in Algeria have started to repatriate their employees because the projects reduced to a trickle since the government adopted a policy of austerity. "The few Chinese companies that remain in Algeria a few months are those specialized in construction sites ALDA maintained. Otherwise, companies activate in public works, oil will see their small staff," says our source.
Although this financing option is currently being informal, it should come to confirm the country of Mao who dethroned France in the last two years in terms of trade with Algeria could do in terms of foreign direct investment.
Offering to finance Algeria to complete its projects, economic power is not the first initiative.
During a visit to Beijing, the Senegalese president Macky Sall was returning home with a jackpot of over $ 4.5 billion that the China Eximbank had agreed to put on the table to fund eight projects in the largest railway infrastructure of Senegal and the road.
Ditto for Indonesia, a Chinese bank has agreed to fund ten projects and repayments are spread over 30 years. A boon for the country, even in economic development.
A Chinese bank to compete with the IMF
Aggressive economic and trade, China wants to become also in finance.
Frustrated for not being heard on the global financial market, requires on the one hand, a reform of global financial institutions (IMF and WB) born of Bretton Woods in 1944 and dominated since then, for the West, and the other is not the legitimacy of the Asian Development Bank (ADB), chaired by the Japanese since its founding in 1966, the President Xi Jinping decided in October 2014 to create the Asian Bank Investment in infrastructure (EBIT), which includes in addition to the Brics, Saudi Arabia, Iran, Turkey, but also in Western countries with strong economies such as the UK, Germany, France and Italy, Switzerland and the Scandinavian countries.