إدارة احتياطيات النقد الأجنبي في الجزائر : الفرص و التحديات

Abstract EN

This paper analyzes Algeria's foreign reserves management policy in recent years, especially in the light of the global financial crisis (2008).

It reviews some of the major stands of the recent debate aboutwhether part of the reserves should be infected by the implications ofthis crisis.Hence, traditional measures for assessing reserve adequacy are utilized to show whether Algeria’s reserve holding are still in an adequate level from a precautionary perspective.An important finding of the paper is that Algeria current levels of foreign reserves are still comfortable and safe, as it exceeds all international norms and standards.

However, the paper emphasized that sound reserve management policy, is essential for helping Algeria to promote policies and practices that contribute to stability and transparency and to reduce external vulnerabilities.