Bank of Algeria Tightens Rules on Returning Export Money
Listen to the story
The Bank of Algeria is the country's central bank. It makes rules about money. Now it has new rules for companies that sell goods to other countries. This is called export. When a company exports, it gets money from other countries. This money is called foreign currency. The bank says companies must bring this money back to Algeria. This is called repatriation. The new rules are more strict than before.
Before, exporters needed a special paper called a visa before they could export. Now this old rule is ending. But the rules about bringing money back are becoming harder. Tarek Boulmerka is an important person. He is the president of a group called Anexal. Anexal helps Algerian exporters. He talked about these changes with the newspaper Horizons.
The government wants to control how foreign money enters the country. Exporters must follow the new rules carefully. Many business people are watching these changes closely.
Vocabulary15 words
- export
- to sell things to another country
- foreign currency
- money from another country
- repatriation
- bringing money back to your own country
- visa
- a special paper that gives permission
- central bank
- the main bank that controls a country's money
- strict
- very careful with rules
- president
- the leader of a group
- government
- the people who lead a country
- rules
- things you must do
- company
- a business
- money
- what people use to buy things
- control
- to have power over something
- business
- work that makes money
- country
- a place with its own government
- newspaper
- paper with news stories
Quiz
Answer key
1. A central bank 2. Bring it back to Algeria 3. True
Fill-in-the-blank listening
Play the audio again and fill in the missing words as you listen.
The Bank of Algeria is the country's central bank. It makes _____ about money. Now it has new rules for companies that sell goods to other countries. This is called _____. When a company exports, it gets money from other countries. This money is called _____. The bank says companies must bring this money back to Algeria. This is called _____. The new rules are more _____ than before.
Before, exporters needed a special paper called a _____ before they could export. Now this old rule is ending. But the rules about bringing money back are becoming harder. Tarek Boulmerka is an important person. He is the _____ of a group called Anexal. Anexal helps Algerian exporters. He talked about these changes with the _____ Horizons.
The _____ wants to control how foreign money enters the country. Exporters must follow the new rules carefully. Many _____ people are watching these changes closely.