What Does the American Sub-prime Market and Algeria Have in Common

Who would have thought that the sub-prime market could affect Algeria. The government of Algeria was planning to privatize the bank Credit Populaire d'Algerie, by selling off 51%, but decided to put the sale on the back-burner. Three of the six banks on the list of potential buyers, including Citicorp (C), dropped out of the bidding because of the problems with the housing, sub-prime and other financial problems.