PSCI 240: Introduction to International Relations (Updated Series) - The Architects of Development: The IMF, World Bank, and the Washington Consensus

What happens when international aid comes with strings attached? In this video, we explore the history and legacy of the IMF, World Bank, and Structural Adjustment Programs (SAPs) that reshaped the economies and politics of the Global South in the late 20th century. From Jamaica’s debt crisis to Zambia’s health care collapse, we trace how these powerful institutions imposed sweeping neoliberal reforms: slashing public spending, privatizing state assets, and opening economies to foreign investors, all under the banner of development. But did it work? And who really benefited? We’ll unpack the rise of the Washington Consensus, the politics of debt, and the criticisms that led to global protest movements and lasting disillusionment. This video also looks at recent efforts to reform