Factors of Destabilization of the Modern World Monetary and Financial System

The crisis of international monetary and financial relations, which has worsened against the backdrop of growing geopolitical tensions and armed conflicts, is a natural reaction of sovereign states to threats to national security in the context of uncertainty of global development. The purpose of this article is to systematize the factors of destabilization of the world monetary and financial system (WMFS), as well as possible ways to restore it through formation of a more sustainable and inclusive global financial architecture. Particular attention is paid to the study of the reasons causing gaps in cooperation between countries, including political conflicts, economic instability and strengthening nationalistic sentiments. The consequences of the WMFS fragmentation for the global economy and possible conditions for restoring and strengthening international dialogue in the monetary and financial sphere are determined. The research methodology is based on systemic approach that allows to analyze a number of possible scenarios for further weakening of the global economy, depending on the degree of fragmentation of the global monetary and financial system. An unfavorable development scenario is considered – “cold economic war 2.0”, according to which the destruction of the concept of free trade could lead to a significant increase of costs of international cooperation. A conclusion is made about the extreme instability of the world economy at present, its stabilization depends both on coordinated actions of a number of countries and on random events.