The impact of global monetary policy on developing economies is very complex and multidimensional. In recent years, central banks in developed countries, particularly the US Federal Reserve, have changed their monetary policies, which has had a significant impact on developing countries. Policies such as low interest rates and quantitative easing play a role in increasing liquidity in global markets, influencing international capital flows. First, low interest rates in developed countries encourage investors to seek higher yields in emerging markets. This creates a wave of foreign direct and portfolio investment, which can accelerate economic growth and create jobs. However, this dependence on capital flows can lead to economic instability. When central banks in developed countries begin to raise interest rates, capital flows could reverse, causing a collapse of financial markets in developing economies that have become dependent on external investment. Second, currency exchange rates are also greatly influenced by global monetary policy. In an environment of low interest rates, developing country currencies often weaken, which can benefit exports, but also increase import costs and external debt. Inflation may increase as a result, impacting people’s purchasing power. Monetary policy measures in developed countries can exacerbate exchange rate volatility, thereby increasing the economic burden in developing countries. Third, global monetary policy also influences the ability of developing countries to maintain fiscal stability. With borrowing costs rising due to market volatility, some countries may need to implement strict austerity policies. This often leads to cuts in social spending, which has a negative impact on people’s well-being. As developing countries struggle to balance their budgets, they may lose focus on critical investments in infrastructure and education. Furthermore, tight monetary policies in developed countries can cause economic uncertainty. When market players doubt the direction of policy, they tend to withdraw investment from developing countries, which can slow economic growth. This uncertainty also forces developing country governments to increase foreign exchange reserves to protect their currencies, thereby reducing the capacity to finance other important projects. Finally, the long-term impact of global monetary policy can create global injustice. Developing countries often become ‘victims’ of decisions taken in developed countries. Gaps in competitiveness, access to resources and markets may widen. These countries need to adapt and seek sustainable solutions, such as economic diversification and strengthening domestic financial systems, to reduce dependence on global monetary policy fluctuations. Overall, the impact of global monetary policy on developing economies creates significant challenges, requiring attention and appropriate strategies from relevant parties.