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Economic History Of Algeria
The fight for independence in Algeria was started in November 1954, and the French military was attacked all throughout the country. It was estimated that 200,000 to 1,000,000 people died in the rebellions, and around 25,000 French soldiers died. |
Algeria gained independence in the year 1962 after fighting for 80 years for national liberation. The countryside was mostly destroyed and the French flew back to France.
The cease fire was proclaimed on 9 March 1962, this was followed by Evian agreement between the Algerian republic and the provisional government under the condition that the France gave independence to Algeria in exchange of military bases and some concession in the oil and gas fields. Even after the agreement was signed, some of the French militants got together and formed a secret armed organization and caused terror in 196 and 1962.
Algeria had good amount of oil and gas reserves. The oil and the gas industry were nationalized in the year 1971 and it had partnership with Japan, Italy, Spain and the United States. These large resources were wasted by the ruling party for rapid industrialization in the 1960s and the 1970s. In the 1980s Algeria had come up with the liberalization program. Till mid years of 1980s, there was political stability in Algeria Houari Boumediene who ruled as a president from 1965 to 1978 was n o more and Algeria faced economic crisis after the year 1985.
The state along with the international monetary fund had introduced certain reform policies to help the economy of Algeria in the year 1989 but this affected the poor.
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