The Role of the BRICS Countries in Strengthening the Stability of the Global Financial System

Student: Ivanova Irina

Faculty: Faculty of World Economy and International Affairs

Educational Programme: World Economy (Master)

Year of Graduation: 2017

The paper examines the changes taking place in the system of global regulation, which entail changes in the global distribution of influence. The alignment of forces in the world is changing, however, the global financial system and its institutions do not fully take into account the changes that are taking place. Taking this into account, the main reasons for the need to reform the global financial system were identified. Given the increased influence of the informal international BRICS institute, it was found that, in view of the increased coordination and the development of common positions in the monetary and financial sphere, the enhancement of cooperation is appropriate and will allow the BRICS countries to contribute to the reform and strengthening of the stability of the global financial system.

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