He Algerian Central Bank ordered this past Wednesday to the banking entities “operate in accordance with current regulations” in foreign trade with Spain. According to a source consulted by the EFE Agency, this order means the unblocking starting this coming Friday of the restrictive measures imposed by Algiers. due to the diplomatic crisis with Spain in relation to Western Sahara.
“Authorized intermediary banks must take into account that direct debit operations for foreign trade operations to and from Spain must be processed in accordance with current exchange regulations,” reads a note sent by the Central Bank to the general directors of the banks. Algerians.
The generic wording of the statement does not make specific reference to the restrictions imposed in 2022so some sources consulted in the banking sector they received the note with caution.
At the same time that relations with Madrid are resumed, Algiers has entered into another crisis with France since in July its president, Emmanuel Macron, showed his support for the Moroccan plan on the former Spanish colony as the “only basis” to solve the conflict.
Then it withdrew its ambassador in Paris and now Algiers ordered to block direct debits for trade with France starting this Tuesday, a measure similar to the one it will now lift with Spain, according to French diplomat and former ambassador to Algeria Xavier Driencourt.
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