The impact of the current financial crisis on the IMF policies

The main purpose of this paper is to present the Washington Consensus and to prove if the current crisis has affected the IMF’s policy, based on the list of reforms that be formulated in Washington Consensus. The article firstly analyses the original Washington Consensus of ten reforms. Then, it gives a different interpretation of the term as liberal manifesto and it continues with the critique on this consensus. The paper also explains why the IMF’s policy need reform and develops the points that IMF has changed. Afterwards, the article investigates if the current crisis has an impact in IMF’s policies and produces its conclusions. Finally, the paper analyzes how the next financial crisis can be prevented and which role the IMF should play