What is the Washington Consensus? Explain.

Question

02 Aug 2023

Answer :

Word Count : 363

The Washington Consensus refers to a set of policy prescriptions and economic reforms that were widely advocated by international financial institutions, such as the International Monetary Fund (IMF), the World Bank, and the U.S. Treasury, in the 1980s and 1990s. The term "Washington Consensus" was coined by economist John Williamson in 1989.

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