It's not so unusual to run out of someone else's currency. Jeffrey Sachs currencyrununusual Change image and share on social
We're going to have to forgive a great deal of the Soviet era debt. There's no question about that. Let's face up to that. We're going to have to put in money if Russia is really going to consolidate a democracy. Jeffrey Sachs consolidatedealdebt share on social
In Asia, a lot of successful economies that had been living on their own saving, decided to open up their financial markets to international capital in the early 1990s. So here were countries doing quite well, but they decided they'd borrow a bit more and do even better. Jeffrey Sachs 1990sasiabite share on social
Unfortunately, the real focus in this country has not been on the rest of the world. It's been on our own issues and our own problems. Fair enough. But it means that our simple hopes that everything will just work out abroad aren't really coming to pass. Jeffrey Sachs abroadcomecountry share on social
We had a booming stock market in 1929 and then went into the world's greatest depression. We have a booming stock market in 1999. Will the bubble somehow burst, and then we enter depression? Well, some things are not different. Jeffrey Sachs boombubbleburst share on social
The idea that UN commitments should be followed by action is indeed a radical one, especially for the United States, where wilful neglect of its own commitments is the rule. Jeffrey Sachs actioncommitmentidea Change image and share on social
Let's start fresh with Russia on some real help and some real reform. Jeffrey Sachs freshrealreform Change image and share on social
I think the IMF helped to detonate the Indonesian crisis. Jeffrey Sachs crisisdetonatehelp Change image and share on social
Senior development specialists in the Treasury can be counted on one hand. America's government is not even aware of the gap between its commitments and action, because almost nobody in authority understands the actions that would be needed to meet the commitments. Jeffrey Sachs actionamericaauthority share on social
If you have a lot of short-term debt, it means that all of that money can be demanded in a very short period of time. Technically, short-term debt means money that's coming due within a year. Typically, it means money that's coming due within 30 to 90 days. Jeffrey Sachs comedaydebt share on social
