أثر تعقيم الأصول الاحتياطية من الصرف الأجنبي على سياسة التوسع النقدي في الجزائر خلال الفترة 2005-2015

Abstract EN

The Algerian economy, like other petroleum economies, has known an increasing flow of reserve assets in foreign currencies, especially at the beginning of this century, making the bank of Algeria increasing the acquisition of its foreign exchange assets.

This remarkable financial situation contributed to the increase in money supply, which was the reason for the price instability.

This requires the intervention of the bank of Algeria in a manner that avoid the undesirable effects of the Algerian economy by adapting and activating the monetary policy and introducing new sterilization tools such as the return of liquidity, permanent facilities and the transfer of treasury deposits from commercial banks to bank Algeria.

Absorbing excess liquidity to some extent