Which of the following option is correct regarding the Washington consensus?
1
Washington Consensus is a security alliance between the United States and the Republic of Korea
2
It is a multilateral treaty, drafted as a result of a resolution passed in 1963 at a meeting of members of the International Union for Conservation of Nature (IUCN).
3
The Washington Consensus has been universally accepted without any criticism or resistance.
4
The Washington Consensus refers to a set of economic policy prescriptions that emerged from Washington-based institutions like the International Monetary Fund (IMF), World Bank, and the U.S. Treasury Department.