OPEC's Debt Recluse Could Test Taboo on Borrowing From Abroad

Algeria, which hasn’t sold debt abroad in over two decades, signaled it may reverse its aversion to outside borrowing and lift some restrictions on foreign investment, Bloomberg News reported. The protest-torn OPEC member, still led by veterans of the war for independence from France waged over half a century ago, was forced to restructure billions of dollars worth of loans from foreign banks in the 1990s. While struggling to revive the economy, the government has been wary of turning to outside financing for fear it could again leave the nation beholden to others. Now that attitude may be changing. Read more

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