المستخلص: |
The assessment of the effect of the COVID-19 pandemic on the economic, monetary and financial environment in Algeria is addressed through a global and financial analysis of the transmission channels of this crisis and the quantitative measures undertaken to counter contractions of the monetary and financial indicators. The results of this analysis showed adverse effects on macroeconomic indicators, in particular a slowdown in economic growth, a higher unemployment rate and deterioration in the purchasing power and terms of trade, etc. The monetary sphere was more weakened, in particular under the effect of the dwindling of foreign exchange reserves, which drop to 24 billion USD in 2020. However, the monetary authorities have conducted a retracted monetary policy (retracted rate) by introducing a quantitative and regulatory easing measures aimed at remedying problems of refinancing and tightening of bank liquidity, recording a drop of -40.9% and low bank profitability dropping to 8% in 2020.
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