Algeria: threat to commercial relations with France, panic in business circles

Alger

According to the information collected by With FigaroThe Professional Association of Banks and Financial Institutions (Abef), a public institution that serves as a voice for the commercial authorities to regulate, called local banks on Monday, November 4 to inform them of a new step: import bank transactions and exports, from and to France, can no longer be processed.

The information was given verbally by a group that, on paper, has no right to make such a bad decision. In addition, there is no official note. But an unauthenticated document summarizing what was said at this meeting was widely circulated in the French community, raising the worst fears.

If the authorities were to confirm this measure, it would mean stopping commercial relations between France and Algeria. Since Paris decided, in July, to recognizing Morocco’s sovereignty over Western Sahara