Algeria steps up pursuit of offshore assets

ALGIERS, Algeria (MNTV) — Algerian authorities say the government is pursuing the recovery of large sums of public money allegedly embezzled during what officials describe as a period marked by corruption, over-invoicing, and the diversion of state resources, according to APA News.

“The mechanisms now in place will ensure that Algeria’s misappropriated assets are eventually recovered,” the prime minister said. “The government’s actions are continuous and coordinated, and the recovery process will yield results over time.”

Investigations have identified offshore jurisdictions, including the Virgin Islands, as destinations where trillions of dinars were allegedly concealed, though recovery efforts are slowed by complex international legal procedures and strict financial tracing requirements. 

Observers note that despite repeated official pledges, publicly verifiable figures on repatriated assets remain limited.

As part of the response, the state has moved to revive companies seized during anti-corruption probes, with the state-owned holding firm Agrodiv reporting that 35 of 37 recovered production units are now operational, preserving more than 2,200 jobs. 

Economists, however, question the long-term sustainability of the strategy, warning that excessive centralization and weak oversight previously enabled corruption and that state takeovers alone do not amount to structural reform.

Analysts have also raised transparency concerns, calling for independent assessments to determine whether the measures are producing lasting results or serving short-term political goals.