Economy

Extension of alleviation measures for the benefit of enterprises affected by the repercussions of COVID-19 pandemic

The Bank of Algeria announced, in a statement on Thursday, that it has extended the planned alleviation measures for the benefit of enterprises affected by the repercussions of the health crisis, until next June 30th .

The statement said: “The Bank of Algeria extends, for the third time, until June 30th , 2021, the alleviation measures of some prevention provisions applied to banks and financial institutions, taken by the Bank of Algeria as part of the instruction 05-2020 of April 6th , 2020.”

With regard to the alleviation measures applied to banks, they consist of reducing the minimum liquidity ratio, as well as exempting banks and financial institutions from the obligation to form a safety cushion.

As for the alleviation measures applied to bank customers, they consist of postponing the payment of loan installments or rescheduling the loans granted to customers affected by the situation resulting from the Covid-19 pandemic, as well as continuing the financing of the beneficiaries of the procedures of debts’ postponement or rescheduling.

The central bank stressed that these measures “were taken within the framework of continuing to assist companies in order to alleviate the repercussions of the health crisis on their activities.”

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