Prospects for International Monetary System Reform: Modern Approaches
The article aims at characterizing modern basic trends of the International monetary system (IMS) transformation, conditioned by important shifts in the structure of the world economy and inspired by the global economic and financial crisis. The corresponding advices contained in declarations of the Group of Twenty's summits and the International Monetary Fund's analytical reports of the years 2011 and 2016 are described. Discussions going on nowadays in the world expert community and practical measures on modifying the IMS' key institutional components have been revealed. These components are: the system of the Special Drawing Rights (SDR), exchange rate regimes, approaches to the management of the cross-border capital flows.