Participation of countries of the world in the processes of formation and management of international reserves
The purpose of the scientific work is to study the pre-sanction practice of participation of the countries of the world in the formation of international reserves. Structural and dynamic indicators of the pre-sanction participation of the countries of the world in the formation of international reserves have been studied, trends in the changes in the corresponding indicators have been identified, which could be interpreted as signals of an increase in the risks of involving international reserves as an element of managing macro-financial stability in the processes of geo-economic and geopolitical confrontation. The current practice of managing international reserves is assessed in terms of the quality of the structure of international reserves of those countries and regions of the world in which they are most in demand as a tool for managing the stability of international economic relations. Based on the results of assessing the structural and dynamic indicators of international reserves, the authors draw conclusions about the advisability of maintaining the current practice of forming international reserves, and also present a detailed assessment of the risks and opportunities formed by each of the significant elements of the international reserve. Considerable attention is paid to the issues of comparing the most significant elements of international reserves, which, in the framework of this study, mean gold and the most liquid foreign exchange assets, in terms of risks and prospects for their use with increasing sectional threats. The practical significance of the study is to provide comprehensive assessments of the existing patterns of managing the structure of international reserves in the context of sectional confrontation.