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National Interests: Priorities and Security
 

The modern world monetary system: Specific features and degree of resistance to crisis phenomena

Vol. 18, Iss. 8, AUGUST 2022

Received: 20 December 2021

Received in revised form: 27 February 2022

Accepted: 26 June 2022

Available online: 15 August 2022

Subject Heading: CHALLENGES OF GLOBALIZATION AND THEIR IMPLICATIONS

JEL Classification: F31, F33, F34

Pages: 1605–1620

https://doi.org/10.24891/ni.18.8.1605

Vladimir K. BURLACHKOV Institute of Economics of RAS, Moscow, Russian Federation
vkburl@gmail.com

https://orcid.org/0000-0003-3206-1564

Tat'yana A. GORBACHEVA Moscow Witte University, Moscow, Russian Federation
t-gоrbacheva@bk.ru

https://orcid.org/0000-0002-3287-6440

Subject. The article addresses the role of international financial organizations in coordinating the monetary policy of central banks of leading countries.
Objectives. The aim is to identify key problems of the current world monetary system functioning.
Methods. We employ general scientific methods.
Results. The paper unveils key problems of the modern world monetary system functioning, i.e. the presence of imbalances, increasing competition of leading currencies, instability of exchange rates.
Conclusions. It is necessary to strengthen the role of international financial organizations in coordinating the monetary policy of central banks of leading countries, increase reserve funds, expand currency swap operations.

Keywords: world monetary system, imbalance, multicurrency, volatility of exchange rates, international financial organization

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