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Algeria: Delays between local payment and foreign currency transfer

Corina Vulpes EXIM R Posts: 3 02/09/2026 12:49	Corina Vulpes EXIM R Posts: 3 Dear Colleagues, We would appreciate hearing about your experience regarding transfer delays in Algeria. We have been informed by an exporter that, in practice, there may be a significant delay between: the date on which the Algerian buyer deposits the payment in local currency (Algerian dinars) with its bank, and the date on which the corresponding convertible foreign currency is actually transferred abroad to the exporter. Have you encountered similar situations in your transactions involving Algerian obligors? If so, we would be interested in understanding the frequency, typical duration, underlying causes, and how such situations are treated under your cover (including mitigation measures) and claims practices. Any recent experiences would be welcome. Thank you very much in advance! Best regards, Corina VULPES, MBA Director Institutional and Business Relations Finance, Guarantees and Insurance - State Funds Division Exim Banca Romaneasca S.A. Barbu Delavrancea nr. 6A 011355 Bucuresti, Sector 1, Romania
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Heike Kensmann EULER HERMES Posts: 182 22/09/2026 09:09	Heike Kensmann EULER HERMES Posts: 182 Dear colleagues, This year we have seen an increase in cover volume as well as arrears but not in claims so far. Unfortunately, we have no detailed information on the causes. Under single cover we have nothing negative to report. Under whole-turnover cover we have registered a payment delay due to lack of foreign exchange availability (overdue amount: about EUR 80,000). The limit had already been suspended at the beginning of the year, since a number of longer-term overdue payments had already occurred at that time. However, there have been some partial payments lately. Current payment delays with other whole- turnover covers are due to other reasons according to our policyholders. Kind regards Euler Hermes Aktiengesellschaft Federal Export Credit Guarantee Division
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Corina Vulpes EXIM R Posts: 3 24/09/2026 05:42	Corina Vulpes EXIM R Posts: 3 Dear Heike, Thank you very much for your prompt reply! Best regards, Corina Vulpes Director Institutional and Business Relations Finance, Guarantees and Insurance - State Funds Division
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