Abstract
This article examines and analyzes the problems and contradictions of the Jamaican monetary and financial system, which have been accumulating throughout its existence since its inception in 1976. The article analyzes how, within the framework of the Jamaican monetary and financial system, the U.S. dollar became the main reserve currency in the world economy and what consequences it led to. In this paper the author expresses his opinion that the problems and contradictions under consideration have become the reasons for the crisis of the Jamaican monetary and financial system today. The paper discusses the possible directions of development of the future world monetary and financial system, which include currency polycentrism, commodity currencies, digital currencies and supranational money.
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