Hard times for CAGEX

According to Djillali Tariket, Chairman of the Compagnie Algérienne d'Assurance et de Garantie des Exportations (CAGEX), only 10% of the Algerian exports is covered by insurance policy, which is of some incidence on CAGEX's activities.

CAGEX has committed to disbursing 120 million DZD (1.6 million USD) out of the total dues owed by European exporters to their Algerian partners. The payment has been made through Khalifa Bank, which has gone bankrupt. The issue of this debt is likely to be the subject of a legal action.