Who is really profiting from Algeria’s oil revenues? This question is fueling a heated public debate in the country. Former political officials, economists, and even political parties are questioning the state’s management of the country’s exchange reserves, estimated in June at $126 billion thanks to increases in oil revenues. “Why are exchange reserves being invested in banks in the US?” some wonder, and “Who is really managing these reserves?” Many are nagged by suspicions that the money deposited in American banks might not be sheltered from the mortgage and financial crises in the US. Smail Goumeziane, former Minister of the Economy, recently added fuel to the fire. “Politically, is it just to finance the Americans’ military activities?” he asked, “And economically, is it fair to finance the budget of a country that subsidizes agribusiness giants in order to artificially dope their competitiveness, so that they have an unfair advantage over
