How to Create Case Study Report on Washing Consensus and Deceptive of Free Trade

How to Create Case Study Report on Washing Consensus and Deceptive of Free Trade

Case Study Report

Washington Consensus is a set of recommendations for economic policy in Latin America and developing countries that was introduced in 1980s. These recommendations were designed with the agreement of World Bank, International Monetary Fund (IMF) and US Department of the Treasury. The emphasized on the countries to make their markets operate freely and reduce the involvement of state in the markets for development. During the early 1980s when there had been a debt crisis the US and western powers decided that the IMF and World Bank should play significant role in global development policy. This term was first used by a British economist John Williamson in 1989. He also worked for World Bank later on. In his recommendations he referred to the list of reforms that he agreed had to be adopted by Latin America. However, this term was then used to harmonize the policies of these institutions.

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