H/P/12. The Washington Consensus: Good or Bad?

The Washington consensus is a set of policies often recommended to and pushed on developing countries by western governments and organizations. One of these organizations is the IMF, which often imposes or "heavily recommends" these policies to developing countries in crisis who are looking to get an IMF loan in order to pay back loans taken from international financial markets, which they are often in danger of defaulting on. While many of the policy recommendations will in no doubt produce a positive economic result for the developing country, some of the policies can be negative economically, environmentally, and socially.