Washington Consensus The term Washington Consensus was first used by English economist John Williamson in 1989. Washington Consensus is a set of free-market economic reform policies suggested by the International Monetary Fund, World Bank and the US Department of the treasury. As all the institutions were based in Washington so the policy prescription was called Washington Consensus by John Williamson. It was for the developing countries faced with the economic crisis. The Washington Consensus recommended structural reforms, in the free market promoting policies in such areas as macroeconomic stabilization, economic…
Read MoreWashington Consensus
