Thursday, February 25, 2016

MENA and Neoliberalism

This is a bit of a curveball question, in that it doesn't directly relate to the reading you have for next week, but I thought I'd still let you wrestle with it (if you choose to do so!). The IMF and the World Bank provide different kinds of development loans and aid packages to some MENA countries, usually tied to the implementation of Structural Adjustment Programs (SAPs), which are policy recommendations within the framework of the so called “Washington Consensus.” What is the prescription of the “Washington Consensus”? What are the expected positive outcomes of these policies? Why have many MENA states been reluctant to implement them? What could be some counterproductive effects produced by these policies?

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