ALGIERS: Algeria’s ruling National Liberation Front (FLN) party has elected businessman Mohamed Djemai as its new leader, state television said on Tuesday, a month after President Abdelaziz Bouteflika quit in the face of mass protests.
Bouteflika’s exit has not quieted protesters, who are now demanding the dismantling of an entire ruling elite entrenched for decades, a shift toward more democracy and a crackdown on systemic corruption and cronyism.
The 50-year-old Djemai, whose business interests have included smartphones, is a relatively youthful figure atop the FLN, most of whose senior officials are in their 70s and have dominated Algeria since independence from France in 1962.
Djemai replaces Moad Bouchareb. The FLN, which has ruled since independence in 1962, will lead Algeria to a position of security, Djemai was cited as saying by the private Ennahar TV. Until presidential elections on July 4, Algeria — a major oil and gas producer — will be run by Abdelkader Bensalah, head of the upper house of parliament, as caretaker president, although he has also faced demands to resign.
Many Algerians hardly took notice of the FLN leadership change as they pressed for bigger changes.
The army remains the most powerful institution in Algeria, having swayed politics from the shadows for decades. It has so far patiently monitored the mostly peaceful protests that at times have swelled to hundreds of thousands of people.
Earlier on Tuesday, the army chief of staff, Lt. Gen. Ahmed Gaed Salah — who helped push out Bouteflika after having him declared unfit for office — said several big corruption cases would come to light in a crackdown on graft, Ennahar TV reported.
A number of figures from the ruling elite including the finance minister, former prime minister and several oligarchs have come under investigation in recent weeks.
“The judiciary has been freed from all pressures,” Salah said in a speech at a base in the eastern city of Constantine. “The country will be cleansed of corruption and corrupt people.”
Salah spoke hours after former Prime Minister Ahmed Ouyahia, who was sacked as part of a Cabinet reshuffle two days before Bouteflika resigned, appeared in court as part of a corruption investigation.
There was no immediate comment from Ouyahia or his lawyers. It is up to the court to decide whether there is enough evidence for him to face a formal charge. Ouyahia later left the court after being questioned by a prosecutor, state TV said.
“Put Ouyahia in prison,” read a banner held up as dozens of protesters gathered near the court in the capital, Algiers.
On Monday, Finance Minister Mohamed Loukal — a former central bank governor who only got the job from Bouteflika last month — appeared in court in relation to an investigation into suspected misuse of public funds, state TV reported.
At least five tycoons, some close to Bouteflika, have been detained and accused of involvement in corruption scandals.
Algeria’s ruling party names relatively young new leader amid protests
Algeria’s ruling party names relatively young new leader amid protests
- Businessman Mohamed Djemai, 50, , is a relatively youthful figure atop the FLN, most of whose senior officials are in their 70s
Syria announces new currency framework, 2-zero redenomination
- Under the plan, every 100 Syrian pounds will be converted into one unit of the new Syrian Arab Republic’s pound
- Governor calls move ‘pivotal milestone within a comprehensive strategy’
DAMASCUS: Syria’s Central Bank announced executive instructions on Sunday to introduce a new Syrian currency, launching a monetary reform that includes removing two zeros from the pound and allowing a 90-day period of dual circulation.
The announcement was made during a press conference at the bank’s headquarters in Damascus.
Central Bank Gov. Abdulkader Husrieh said the step was part of a comprehensive institutional strategy to restore confidence and achieve sustainable economic stability.
He said: “The launch of the new currency is not a formal measure, but a pivotal milestone within a comprehensive strategy based on solid institutional foundations.”
Under the plan, every 100 Syrian pounds will be converted into one unit of the new Syrian Arab Republic’s pound. The old and new currencies will circulate together for 90 days, a period which may be extended.
All bank balances will be converted to the new currency at the beginning of next year, while the overall money supply will be maintained without increase or reduction.
Husrieh said the economic strategy was based on five pillars: monetary stability, a stable and transparent foreign-exchange market, effective and accountable financial institutions, secure digital transformation, and balanced international economic relations.
He said the move required updating financial laws and regulations, improving data systems, keeping pace with global digital developments, and ensuring sustainable financing and training for the financial sector.
The currency exchange will be provided free of charge, with no commissions, fees, or taxes.
All public and private entities must apply the official conversion standard to prices, salaries, wages, and financial obligations. Official exchange-rate bulletins will be issued in both currencies to ensure transparency and prevent speculation.
The governor said the central bank was closely monitoring markets to stabilize the exchange rate and would supply Syrian pounds if demand for foreign currency rises, adding that citizens will feel the impact more clearly after the exchange process is completed.
“Our policy is financial discipline, with no room for inflation,” Husrieh added.
He confirmed that the decree regulating the exchange limits the process to Syrian territory, and said the measures fell within the bank’s 2026-2030 strategy to align with international standards.
The new banknotes, he added, were being printed by leading international companies to prevent counterfeiting.
