This work provides a comprehensive exploration of the contemporary challenges faced by the global financial system, analyzing the intersection between monetary policy, financial crises, and the growing economic interdependence among nations. The content examines how the evolution of financial markets, the emergence of digital currencies, and the intensification of geopolitical tensions are profoundly transforming the dynamics of international finance. With an academic and detailed approach, the book offers a critical analysis of the impacts of sovereign debt crises, the risks associated with short-term speculative flows, and the role of multilateral institutions such as the International Monetary Fund (IMF), the World Bank, and the World Trade Organization (WTO) in promoting financial stability. The discussion on the implementation of carbon taxation policies and the commitments of the Paris Agreement highlights the urgency of aligning economic policies with environmental sustainability and the need for a more inclusive financial system. The work delves into strategies for managing public debt, addressing techniques of debt restructuring, the use of collective action clauses (CACs), and the challenges faced by emerging countries in a context of financial globalization and increasing exchange rate volatility. Additionally, it explores the fragmentation of global value chains, driven by reshoring and friend-shoring policies in response to technological and trade disputes between the United States and China. By discussing the rise of central bank digital currencies (CBDCs) and the impact of digitalization on monetary policy and financial intermediation, the work provides a comprehensive view of the risks and opportunities that will shape the future of global finance. The need for a more effective global coordination to address systemic risks, ensure market transparency, and promote a more inclusive financial governance is a central theme throughout the book. Combining in-depth analyses, current data, and a solid historical perspective, this work is an indispensable reading for economists, financial analysts, policy makers, and anyone seeking to understand the structural transformations and emerging risks in the global financial system.