Algeria is going through dark times under the rule of an incompetent military junta, which is sending the country into a destructive spiral. With disastrous economic management and a blind political vision, the current leaders are leading Algeria towards a catastrophic scenario, sadly reminiscent of the scenarios of Venezuela or worse, that of Zimbabwe !
The situation of the Algerian dinar is symptomatic of this ongoing disaster. With an alarming exchange rate exceeding 265 dinars per euro, the national currency is in free fall, and experts predict a total collapse before the end of 2024. The loss of confidence in the dinar only aggravates galloping inflation, which destroys the purchasing power of Algerians, condemning them to increasing poverty. The prices of basic foodstuffs are exploding, and imported products are becoming inaccessible for a large majority of the population.
The ruling military junta, incapable of governing other than through repression, refuses to admit its failure. Its obsession with remaining in control at all costs, by closing the door to any democratic and economic opening, condemns the country to stagnation, even regression. Algerians see their future darkening while leaders continue to squander national resources, sinking into systemic corruption which echoes the abuses observed in Venezuela, where oil wealth only served to enrich a corrupt elite, while the people were sinking in misery.
Inflation, already unbearable, threatens to cause large-scale riots. Food shortages begin to be felt, and social instability sets in. As in Zimbabwe, where the devaluation of the national currency led to scenes of despair, Algeria seems to be heading towards similar chaos. The military government appears to have no credible solution other than the use of force to contain popular anger. But how much longer can they stifle the voices of a people exhausted by mismanagement, corruption and repression?
Algeria’s time is over, and the window to avoid total collapse has definitively closed. Social uprisings on an unprecedented scale are now inevitable: A desperate people who have nothing left to lose in the face of a power that is deaf to their suffering will do anything to revolt!
Abderrazzak Boussaid/Le7tv
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