إدارة السياسة النقدية في ظل تغيرات احتياطي الصرف : دراسة حالة الجزائر خلال الفترة (1990-2017)‎

الملخص EN

This study aims to know how to manage monetary policy in light of the changes in the exchange reserves in Algeria, by knowing the relationship between its changes and the money supply and inflation.

It was concluded that the reserves had no effect on the money supply and inflation during the period 1990-2000 due to their weak size, and the management of policy was subject to the conditions of the International Monetary Fund, which, despite giving many recommendations, were not taken into account in the first half of the nineties of the year.

The twentieth century, due to the security and social crisis at the time, but in the second half of it, the monetary authorities were forced to implement those conditions, which helped reduce inflation rates, while the period 2001-2017 was marked by a clear impact of reserves on the money supply and inflation, despite the Bank of Algeria's attempt to orb The surplus money supply, however, was sometimes unable to control inflation due to the presence of other factors outside the money supply.