Why neoliberalism is also designated as Washington consensus policies?

Neoliberalism is often referred to as Washington Consensus policies because it emerged from a set of economic reforms promoted by institutions based in Washington, D.C., such as the International Monetary Fund (IMF) and the World Bank. These policies emphasize free markets, deregulation, privatization, and fiscal austerity as strategies for economic growth, particularly in developing countries. The term reflects the shared ideological framework that emerged in the late 20th century among policymakers and economists advocating for these approaches. Consequently, the Washington Consensus symbolizes a specific set of neoliberal economic principles endorsed by Western governments, particularly the U.S.