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Agreement to
Becomes Intrusive to other countries policies
The IMF has used conditionality to exact major changes, called ” structural adjustments,” in borrowing countries’ fiscal and monetary policies, including such issues as banking regulations, government deficits, and pension policy.
One size fits all polices
IMF imposed the policies of the Washington Consensus on countries without understanding the distinct characteristics of the countries that made those policies difficult to carry out, unnecessary, or even counter-productive.They do not generally specialize in the economies of the countries whose policies they oversee, often do not live in those countries and mostly work from Washington, D.C. and have little appreciation for the political circumstances under which the governments operated.
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