Unlike during the 1930s, monetary relations did not degenerate into total chaos. Instead, a significant degree of cooperation was preserved under the auspices of the IMF. Later on the international financial system has been exposed to a string of crises since the early 1980s. But the IMF in particular was chastised for its role in the crises of the mid- and late 1990s.
A common feature of these crises was that they grew out of weaknesses in domestic economic policy frameworks accentuated by international capital flows and often in combination with unsustainable fixed exchange rate pegs.