Abstract: The article discusses the impact of global financial problems on the Azerbaijani
economy in modern economic conditions. The article shows that globalization has led to the close
dependence of the world economy on all economic transformations. Modern world economic
development is characterized by asynchronous instability, which leads to the formation of a
unipolar world. That is why the task of developing and implementing an alternative and global
transformation program is relevant. In this context, the article examines global financial problems
in order to develop a more sound and sustainable economic development strategy for Azerbaijan.
The article analyzes the impact of global financial problems on the Azerbaijani economy, studies
the current state of the country’s economy, and its sensitivity to changes in foreign financial
markets. The issue examined in the article helps to determine the necessary measures to maintain
Azerbaijan’s economic stability, as well as better manage the effects of global financial problems.
As a result, it is shown that solving financial problems requires strategic approaches such as
proper planning, budget management, and proper risk assessment. It is also indicated that in order
to protect against problems, measures should be taken to diversify the economy, increase foreign
exchange reserves, maintain social and economic stability, and expand opportunities for adaptation
to changes in the global economy.
Keywords: financial problems, Azerbaijani economy, “financial system crisis”, bankruptcy,
financial panic, public debt, inflation, price increases, unemployment, economic instability,
investment, capital flows, COVID-19 pandemic, global resource shortage, climate change