Essence and modern trends in the formation and management of international reserves

Abstract

World financial markets development indicates an increase in the role of intentional reserves for international capital markets. The study aims to address, evaluate and analyse the international reserves, as well as their impact on the national economy. During the research data of graphical and statistical analysis, as well as the selection of information for analysis, generalization and methods of regulation of international reserves were used. The study analysed and systematised the goals and objectives, principles, risks, structure, functions of international reserves, factors that affect the international reserves, policy directions for the management of foreign exchange reserves, stages of the management process, as well as factors that depend on the number of intentional reserves. The dynamics of changes in Ukraine's intentional reserves; dependence of the change in the level of the foreign exchange reserves of Ukraine on the change in inflation via the analysis of macroeconomic data using the elasticity coefficient were analysed, and costs and sources of replenishment of the intentional reserves were analysed to determine the optimal size of foreign exchange reserves for the period from 2010 to 2023. One of the criteria for the adequacy of the international reserves was systematized, namely the coverage of at least three months of future imports of goods and services. The importance of the role of the international reserves in the economy of Ukraine is substantiated. The study identified the most important problems, as well as methods and ways of more effective management of intentional reserves are suggested. The practical value of the conducted research is that it allows for an increase in the efficiency of the management of international reserves in the context of ensuring financial security