What is the 'Washington Consensus' and how does it affect US policy towards Latin America?

US financial institutions such as governments, banks, nonprofit organizations have provided economic assistance to developing countries for a long time to prevent large-scale economic collapse and post-disaster reconstruction. This is especially so after World War II and the Bretton Woods Conference are the future of the World Bank today. It sometimes fails to improve the country when the United States provides aid in other countries and regions, especially Latin America.

The reason why Latin America moves to the left is the serious disillusionment of a series of market-oriented reforms carried out in the 1990s. These policies, later called "Washington Consensus", called for resolving the budget deficit, reducing inflation, eliminating regulations on international trade, privatizing public enterprises, and deregulating markets over decades. A series of controls to limit the fight between investment and breeding of corruption, cumbersome restrictions, restrictions to surrealist

A detailed analysis of the evidence suggests that the so-called Washington consensus reform is only a part of the inefficient policy environment in Latin America despite the attention of all media. In fact, most economies in Latin America are still one of the most regulated and distorted protectionist countries in the world. In many of these companies, the cost to start a business is very high, it is suffocating in the deficit and the tax is very high. With very few exceptions, the system is still very weak. Property rights are not fully guaranteed, judicial efficiency is low, contract enforcement is difficult, corruption is widespread, and the rule of law is missing. In addition, across the region, the government is still very large, strong and highly inefficient, can not provide basic services such as quality education and infrastructure, can not support research and development.