The Washington Consensus refers to a set of ten economic policy prescriptions promoted in the late 20th century by Washington, D.C.-based institutions, particularly the International Monetary Fund (IMF), the World Bank, and the U.S. Treasury Department, as a framework for economic reform in developing countries. These prescriptions emphasize market liberalization, fiscal discipline, privatization, deregulation, and openness to foreign investment and trade. Although initially embraced as a development path, the Washington Consensus has also faced criticism for prioritizing neoliberal reforms at the expense of social equity and local needs.

• Williamson, J. (2004). A short history of the Washington Consensus. In J. Williamson (Ed.), The Washington Consensus revisited: Towards a new global governance (pp. 3–30). Oxford University Press.