This paper considers possible futures for the international monetary system in light of recent economic and political events in the United States and globally. It contrasts scenarios pre- and post-inauguration of the second Trump administration. Earlier scenarios foresaw very gradual rebalancing of the international monetary system away from post-Bretton Woods dollar-centric international financial architecture. Recent developments have pointed toward the possibility of a more abrupt shift away from a system centred on the dollar and the US correspondent banking system. The paper considers economic, financial, geopolitical and technological considerations bearing on possible futures.
