EBRD prints Algerian dinar-linked note

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By Frank Jackman
26 Jun 2020

The European Bank for Reconstruction and Development (EBRD) sold the first Algerian dinar-linked bond from a development finance institution last week. With local market liquidity drying up because of the collapse in the price of oil, further demand for dinar assets could depend on how well the nation’s economy diversifies away from the industry.

The currency-linked bond was structured by the Currency Exchange Fund (TCX).

“As the first DFI bond in Algerian dinar, this deal is important going forward as it sets a benchmark for external support in the event of a further depression in oil and gas prices,” said Othman Boukrami, ...

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