council decis septemb provid medium term loan algeria eec council european commun regard treati establish european econom commun articl thereof regard propos commiss regard opinion european parliament algeria undertaken polit econom reform decid adopt plural market economi model commun algeria tradition close econom polit cultur link develop framework cooper agreement relat protocol agreement algerian author adopt econom financi programm design acceler market relat reform liber import foreign exchang arrang aim achiev convert nation currenc earli programm support intern monetari fund imf recent approv stand credit author draw sdr million world bank recent approv million structur adjust loan spite financ provid imf world bank multilater bilater offici creditor algeria face except balanc payment financ reflect heavi extern debt servic payment relat short term borrow bunch repay medium term extern debt algerian author request complementari financi assist commun order safeguard algeria credit worthi strengthen reserv posit facilit introduct convert success algeria econom financi programm depend crucial agreement commerci bank creditor refinanc arrang design improv profil extern debt servic repay grant commun medium term loan algeria assist balanc payment strengthen countri reserv posit support econom polit reform process commun loan manag commiss implement abovement measur achiev commun aim treati provid measur question power articl question risk guarante gener budget european commun examin context renew interinstitut agreement budgetari disciplin improv budgetari procedur decid articl commun grant algeria medium term loan facil maximum amount ecu million princip maximum durat year view ensur sustain balanc payment situat strengthen reserv posit facilit introduct convert nation currenc end commiss empow borrow behalf european econom commun resourc dispos algeria form loan loan manag commiss full consult monetari committe manner consist agreement reach imf world bank algeria articl commiss empow negoti algerian author consult monetari committe econom polici condit attach loan condit consist agreement refer articl commiss verifi regular interv collabor monetari committe close coordin imf world bank econom polici algeria accord object loan condit fulfil articl loan made algeria instal instal releas basi imf standbi arrang world bank structur adjust loan agre june algeria arrang algeria commerci bank creditor improv countri futur debt servic repay profil loan refinanc agreement instal releas period quarter subject provis articl fund paid nation bank algeria articl borrow lend oper refer articl carri date involv commun transform matur exchang interest rate risk commerci risk commiss step algeria decid includ loan condit exercis earli repay claus request algeria circumst permit improv interest rate loan commiss refin part initi borrow restructur financi condit refinanc restructur oper carri accord condit set paragraph effect extend averag durat borrow concern increas amount express current exchang rate capit outstand date refinanc restructur relat cost incur commun conclud carri oper decis born algeria monetari committe inform develop oper refer paragraph year articl year commiss address european parliament council report includ evalu implement decis brussel septemb council presid bukman oj oj