اثر تعقیم الاصول الاحتیاطیة من الصرف الاجنبی على سیاسة التوسع النقدی فی الجزائر خلال الفترة 2005-2015

The algerian economy, like other petroleum economies, has known an increasing flow of reserve assets inforeign currencies, especially at the beginning of this century, making the bank of algeria increasing theacquisition of its foreign exchange assets. this remarkable financial situation contributed to the increase inmoney supply, which was the reason for the price instability. this requires the intervention of the bank ofalgeria in a manner that avoid the undesirable effects of the algerian economy by adapting and activating themonetary policy and introducing new sterilization tools such as the return of liquidity, permanent facilities andthe transfer of treasury deposits from commercial banks to bank algeria. absorbing excess liquidity to someextent.