5 The 10 items identified in the original Washington Consensus were: emphasis on fiscal discipline; prioritizing public expenditure in activities “with high economic returns and potential to improve income distribution”; tax reforms; deregulation of interest rates and an end to directed credit; exchange rate regimes to encourage competitiveness and stability; liberalization of trade policy; encouraging foreign direct investment; privatization; deregulation of domestic production; and securing property rights.
The 10 items identified in the original Washington Consensus were: emphasis on fiscal discipline; prioritizing public expenditure in activities “with high economic returns and potential to improve income distribution”; tax reforms; deregulation of interest rates and an end to directed credit; exchange rate regimes to encourage competitiveness and stability; liberalization of trade policy; encouraging foreign direct investment; privatization; deregulation of domestic production; and securing property rights.