President fires Central Bank Governor

The Presidency on Monday announced the firing of the Central Bank governor. President Abdelmadjid Tebboune of Algerian sacked the Central Bank boss, Rostom Fadli, on Monday from office in less than two years of appointment. The President appointed Salah Eddine Taleb to replace Rostom Fadli.

The Presidency in a statement declared that “President Tebboune on Monday ended the functions of the Governor of the Bank of Algeria, Rostom Fadli, and appointed Mr. Salah Eddine Taleb to replace him.”

Fadli was appointed interim head of the central bank in June 2020. He was later confirmed as substantive head of the bank.

The economy of Algeria has depended mainly on oil exports accounting for 90 per cent foreign income.