Algeria after Bouteflika

Algeria’s President Abdelaziz Bouteflika’s decision not to seek a fifth term in office is unlikely to spell the end of the political saga. Whoever eventually takes over will inherit an economy that has yet to adjust to low oil prices. But the lesson from the Arab Spring is that policies implemented during a period of unrest often exacerbate an economy’s imbalances, leading to a more painful adjustment further down the line.