ISSN – PRINT:2756-4495 | ONLINE: 2756-4487
Volume 02, Issue 01 – 2022
Peter Nwaguru, Augustus Gbosi, Nsikan John
Corresponding author’s email: firstname.lastname@example.org
The global financial system plays crucial roles in the advancement of the world economy. In recent times, the operational performance of this sector has been bedeviled with uncertainties and turbulences resulting from three major challenges: Covid-19 pandemic, Climate change, and the allure of Cryptocurrency amidst other factors. Consequently, the far-reaching implications of these 3Cs on the global financial system constitutes the focus of this article. The article adopted qualitative approach through content-analysis of scholarly works, and other related sources of information. The study concludes that a better global financial system will only emerge from the Covid-19 pandemic if strong economic recoveries are promoted and supported amongst all regions of the global economy. In addition, nations are likely to see the emergence of an operationally strong financial system under the following conditions: a). Economic gains from the pandemic recovery are skewed towards middle and lower-income households; b). Health provision, including access to vaccine is treated as a truly global public good, c) A coordinated big investment push across all countries into carbon-free sources of energy.
Keywords: International financial system; Financial risks, Monetary policy, Crypto-asset