The role of the International Monetary Fund in the system of global regulation

Abstract

The article considers the changing role of the International Monetary Fund in the system of global governance. The international community has recognized the necessity for reform of global institutions, and make to strengthen international cooperation to new global challenges and threats. After the Bretton Woods conference, the global economy experienced a crisis of a different nature and the actions of the International Monetary Fund has not always been effective. The policy of the Fund is constantly criticized and led to the aggravation of problems in the lending of states, which significantly undermined the credibility of the organization in the international arena. New challenges and threats in the global economy of the XXI century led to the creation G20, the Financial Stability Board. Authors try to determine the new role of the IMF in addressing global problems in the system of global governance in the conditions when there is a redistribution of functions in the regulatory system.