Algeria has dismissed central bank governor Salah Eddine Taleb, appointing deputy governor Mouatassem Boudiaf as acting head, according to a presidential decree reported by state media on Sunday.

Reuters reported that no official reason was provided for Taleb’s removal.

Taleb had served as governor since May 2022, overseeing the Bank of Algeria’s efforts to maintain monetary stability amid inflationary pressures and an economy heavily reliant on hydrocarbons. During his tenure, he promoted initiatives to modernise the banking sector, advance digitalisation, and position the central bank to support domestic economic activity. He also represented Algeria in international forums, including the International Monetary Fund and World Bank, advocating for policies to strengthen the country’s financial resilience.

The governor plays a key role in managing inflation, interest rates, and liquidity, as well as supervising the banking system.

Boudiaf, previously deputy governor, will assume leadership on an interim basis. The change comes at a time when Algeria continues to manage macroeconomic challenges, including inflationary pressures and efforts to diversify its hydrocarbon-dependent economy.