Transformation of Approaches to Building a System of Anti-Crisis Functioning of Main International Financial Institutions in the Context of New Geopolitical Challenges

Abstract

The article is devoted to the evolution of the role of approaches to the construction of “global safety nets”; the elements of global safety nets (of national, regional, global level) are critically analyzed in terms of the possibility of their use in the context of new geopolitical challenges. Based on the established criteria for assessing the effectiveness of elements of global safety nets, it is concluded that the contour coverage of anti-crisis mechanisms of certain groups of the countries is fragmented: as opposed to the countries issuing reserve currencies with virtually unlimited and relatively inexpensive access to network elements, the group of developing countries is much less covered by anti-crisis regulation. A hypothesis is being put forward about the collapse of the unified architecture of global safety nets in the face of new geopolitical challenges, in particular, due to the erosion of the anti-crisis function of international reserves, IMF programs and swap agreements of central banks

Keywords

• globalization of the world economy
• global safety nets
• international reserves
• sovereign wealth funds
• the imf
• international financial institutions
• cross-border capital flows
• international credit
• swap agreements.