Evolution and development trends of the world monetary and financial system

Introduction. Structural changes in the world economy and trade its financialization contributed to growth of instability necessitated building a new structure for monetary financial system. Theoretical analysis. The evolution global system, when function money shifted from gold fiduciaries SDR, resulted formation two-level structure. top level consists countries with reserve currencies and, thanks this, such have privilege forming long cheap liabilities by creating public corporate debt, financing balance payments deficit through issuance. rest that do not significant sources long-term investments belong lower level, since they are obliged maintain compliance their national base volume international reserves. development system within framework was supported an increase transactions appearance derivatives, purpose which only hedging, but also speculation. Empirical It found out that, while chronic growing debt were problem United States last 20 years, sharp Federal Reserve System rates 2022, increased nominal yield treasuries, significantly cost servicing. decrease degree confidence dollar pushes central banks diversify reserves, as result share these reserves has begun increase. Those now more interested CBDCs. Results. increasing importance tangible assets against background political world, well need use modern digital forms money, open up possibility ruble become one world’s multipolar