Subject. This article considers the world monetary system, and proposals for conducting monetary settlements in modern conditions. Objectives. The article aims to develop a science-based approach to the creation of a new world monetary system and highlight the approach of the Russian school of economic thought regarding the formation of a new world monetary system. Methods. For the study, I used abstraction, deduction and induction, and some other general scientific research methods. Results. The article substantiates certain conceptual principles that should form the basis for a new world monetary system creation. Conclusions and Relevance. In the context of the Jamaica Accords malaise, it is necessary to form a new world monetary system through the agreement between the world economy countries, striving for mutually beneficial and equal cooperation. The results of the study can be useful in the context of currency and monetary settlements carried out in the field of external market relations.
Keywords: world monetary system, world reserve currency, national and foreign currencies, central bank
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