The Washington Consensus and the Establishment of the Liberal Creed

Since the end of 1980’s the global spread of liberal economic policies began and today these approaches are the basic ideological fundament of global market. The liberalization of many states economies becomes a major theorem to provide well-being for these communities. The main bodies of liberalization implementation are International Monetary Fund (IMF) and The World Bank (WB). In 1990 to describe the process of Washington-based institutions imposed economic policies to Latin American countries John Williamson introduced a term – “Washington Consensus”. Since then Washington Consensus become a title of neoliberalism policies around the world. …