Scientific Journal of KubSAU

The article investigates the global monetary and financial crisis and its impact on individual countries and regions of the world. The author comes to the conclusion that the first onset of the global financial crisis began in the U.S. in January 2006, when a number of small mortgage banking institutions declared bankruptcy. Secondly, the author suggested that we should expect a second wave of global financial and economic crisis, which will lead to even more devastating consequences for individual countries and regions