Home  Journals  Finance and Credit  13(349) – 2009 April

Problems and ways of reforming of international financial institutions

Available online: 16 September 2009

Subject Heading: Financial system

JEL Classification: 

The article analyses the current economic and political situation in the world. An obsolete system of international financial institutions is considered a reason for the global crisis. First of all this is Bretton Woods system: International Monetary Fund, World Bank, and their financial component based on USD. The authors speculate on the new world financial orders and conclude that an alternative financial system is needed, initiated by BRIC countries. New world financial order should promote the transition to multipolar world and turn geopolitics to developing countries.

Keywords: economic and political situation, global crisis, financial institution, alternative, financial system

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ISSN 2311-8709 (Online)
ISSN 2071-4688 (Print)

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