What does the "Washington Consensus" refer to?
A) an agreement among North American countries that they would respect each other's agreements previously made with workers' unions
B) structural adjustment programs established in the 1980s
C) the establishment of protocols regarding how long nations have to repay loans
D) an agreement to block trade with nations having bad human rights records.

Question

Quizplus · Accepted Answer

The Washington Consensus refers to a set of ten economic policies aimed at promoting free-market principles and liberalization of economies in Latin America, which were established in the 1980s by institutions such as the International Monetary Fund (IMF) and the World Bank. These policies included privatization, deregulation, and reduction of public expenditure.

What Does the "Washington Consensus" Refer To