Algeria named a new central bank governor on Sunday.
President Abdelmadjid Tebboune said in a televised interview that Rosthom Fadli will replace Ayman Ben Abdurrahman who was named finance minister in June.
Tebboune also ordered the opening of Algerian banks in Europe and Africa to allow expatriates to deposit or transfer their funds and to boost commerce, especially with African countries.
During a cabinet meeting, the president stressed the importance of learning from the expertise of international financial institutions to benefit Algeria.
Separately, Mining Minister Mohamed Arkab revealed that local gold production does not exceed 60 kilograms per year.
He stated that his ministry has set a goal to raise production to 240 kilograms a year.