Algeria’s external debt fell to $6.9bn in 2024.

Lower is better. A lower figure means smaller claims from foreign creditors on the country's foreign currency, and less exposure if borrowing costs rise or loans need refinancing. The latest figure is $6.9bn for 2024, down from $7.3bn a year earlier, a fall of 5.7%. Since 2015 the stock has ranged from $4.7bn in 2015 to $7.4bn in 2021. The 2024 level therefore sits in the upper part of that range, though the latest year has moved away from the 2021 peak.

Why it matters. Repaying external debt takes foreign currency, so a stock of $6.9bn is a claim on the dollars and euros the country earns abroad. A smaller stock than a year earlier leaves the state and Algerian firms with fewer repayments owed to foreign lenders. The level is still well above the 2015 low of $4.7bn, so the obligation is larger than it was at the start of the period.