Tebboune sacks the governor of Algeria's central bank
Algeria's President Abdelmadjid Tebboune has dismissed Rostom Fadli as governor of the country's central bank, according to a presidential communiqué, without specifying the reasons for the dismissal. The note also notes that Fadli, who had held the post since September 2020, will be replaced by Salah Eddine Taleb, secretary of the Currency and Credit Council (CMJ), a body created in 1999 to direct Algeria's monetary policy and control banking activity.
Fadli became governor of the Central Bank of Algeria after the departure of the current prime minister and Finance Minister Aiman Benabderrahmane. However, since former president Abdelaziz Bouteflika sacked Mohamed Laksaci in 2016 after 15 years in office, none of the governors have held the post for long. Not even former Finance Minister Mohamed Loukal, currently in prison for corruption-related charges.
This dismissal comes just days after Tebboune dismissed the governor of the eastern city of Jenchela without giving reasons, reports EFE. At the same time, the Algerian leader has launched a political initiative to create political cohesion in the country. This proposal based on "political consensus" and "reunification" has been praised by the Algerian army chief of staff, General Said Chengriha, reports the news agency. Chengriha is known for his strong dislike of Morocco and, in fact, has been reported to have influenced many of the Algerian movements against the Alawite kingdom.
Under this Tebboune-driven initiative, dismissals and replacements have become commonplace within the country. During this year, instability has dominated Algeria's institutions. As Al-Arab points out, several ministers have been abruptly dismissed as part of Tebboune's government reforms since he came to power in late 2019.
Moreover, Fadli's dismissal comes amid a financial crisis and a surge in food and commodity prices triggered by Ukraine's invasion, as the country is one of the Maghreb's main suppliers of wheat.
But it is not only wheat that has seen an increase, beef, for example, is selling for more than 2,000 dinars per kilo, or almost 10 euros, equivalent to 10 per cent of the Algerian minimum wage, reports Middle East Eye. "My salary is not increasing at the same rate as the rise in prices," a high school teacher in Algiers told the media. "We can hardly eat well," admits another citizen.
This price increase is causing social unrest within the North African country and threatens a social explosion. At the end of April, 29 trade unions organised general strikes to express their rejection of rising prices and the deterioration of purchasing power.
The government accused two organisations, the Algerian Public Services Sector Union and the Confederation of Algerian Trade Unions, of acting "illegally in Algeria" and violating "the legal provisions in force", reports the daily Al Quds. But the protesters, far from giving up, have threatened to intensify the protests.