The article examines the main risks for the global economy in the short term, primarily in 2023, coming from the financial sector. There is a transition to a model of economic development with higher inflation rates and lower economic growth in global economy. The main short-term risks for the international financial system are mainly the spread of fragmentation processes, as well as an increase in volatility in international financial markets, and the exacerbation of the debt problem in individual countries. In the long term, the most serious problems may be the global debt problem and the increasing fragmentation of the international financial system. The key areas for the development of global cooperation in the financial sector are the continuation of the reform of the international financial system with the spread of regulation to sectors that have not been affected yet (securities markets, digital finance), the search for a solution to the debt problem, strengthening the positions of countries with emerging markets and developing countries in decision-making process.

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