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The "Washington Consensus" is a rather recent term. The concept itself refers to policies that were put in place by the 70's. The IMF and the World Bank both p
by AnAfrican 10y ago
The "Washington Consensus" is a rather recent term. The concept itself refers to policies that were put in place by the 70's.
The IMF and the World Bank both predate those "policies".
And they were giving loans and advise before.
Truth is: they're an easy scapegoat. It's that simple.
Countries have succeded by following the IMF/WB "Neo-Liberal" advise and other countries have failed by doing the same.
Countries have also succeded by not following the IMF/WB "Neo-Liberal" advise and other countries have failed by the same.
Most of the time, local politics is the real issue.