The purpose of the study is to analyse recent developments in the international Financial system. The study collated and critically examined several works from different authors with a view to shed light on the effects of recent developments in the international financial system. The findings show that though international financial system has gone through progressive transformations through recent developments. This is a theoretical study as inference was made from relevant literature thus empirical studies is highly recommended in future works. The study contributes to the literature on robust knowledge of recent events in the international financial system.

Keywords: international financial system, globalization, financial crises, covid-19 pandemic