Algeria and the Urgency of Diversifying Beyond the Oil Economy
Oil producing nations that have large populations and are heavily dependent on oil exports are particularly vulnerable to global economic volatility
Some OPEC countries like Algeria are bracing for a rough year to come. Producing nations that have large populations, in particular, and are heavily dependent on oil exports are particularly vulnerable to global economic volatility, despite the billions of dollars of reserves they have accumulated since 2003. This time, the situation appears even more alarming given the massive drop in oil prices that has occurred over an incredibly fast period. Continue reading here.