adminAlgiers – Algerian authorities have arrested 17 people including importers and bank officials as the country tightens control on imports and corruption to help counter the effect of low world oil prices, a judicial source says. State radio said security services were co-ordinating with Interpol, seeking the arrest of other people based abroad and suspected of being members of a network that has violated laws on imports and money transfer.
OPEC member Algeria, feeling the impact of the oil price slump, has been trying to cut import bills, which reached $58bn in 2014, almost the same level of energy revenues in the North African OPEC producer.
Ten importers and four state and private bank officials were among the 17 arrested in the western city of Oran.
They were accused of illegally transferring €26m and $5m and planning to transfer €124m, state radio said. Imports were enabled by bank officials who provided loans.
“They inflated import bills. Their goal was to set up a smelting works plant with equipment that does not meet standards,” said a judicial source. – AP
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