Impact of The Pandemic and Geopolitical Crises on The International Financial System: Short and Long Term Effects

Abstract

The COVID-19 pandemic and geopolitical crises have had a significant impact on the international financial system in both the short and long term. Governments and central banks around the world have responded with unprecedented monetary and fiscal stimulus to cushion the impact on the economies. Geopolitical crises have created uncertainty and disrupted global supply chains, leading to changes in international trade and investment patterns. The article includes an overview of the current situation in the international financial system affected by the escalation of the Russia-Ukraine conflict and long-term impact of the COVID-19 pandemic crisis. Authors analyzed economic consequences of the geopolitical confrontation and prospects of international financial system development in a changing context.