Phrase by 'Jeffrey Sachs'

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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.

Author: Jeffrey Sachs - American Economist
  You , Time , Short , Money


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.

Author: Jeffrey Sachs - American Economist
  Doing , Own , Better , Living


The runs started in Thailand after the IMF intervened in such a dramatic way. Then the IMF came to Indonesia.

Author: Jeffrey Sachs - American Economist
  Way , Started , Dramatic , Thailand


I think the IMF helped to detonate the Indonesian crisis.

Author: Jeffrey Sachs - American Economist
  Crisis , Think , I Think , IMF


The Russian drama began at the end of 1991, when the Soviet Union mercifully ended. Russia and 14 other new countries emerged from the ruins of the Soviet Union. Every one of those 15 new states faced a profound historical, economic, financial, social and political challenge.

Author: Jeffrey Sachs - American Economist
  New , Political , End , Challenge


We, being the Western world, wouldn't let Russia off the hook on debt. So there were demands on debt servicing in the early days until they ran out of reserves. There was no real aid program, just a fictional aid program.

Author: Jeffrey Sachs - American Economist
  Being , World , Real , Debt


Devaluations are never easy.

Author: Jeffrey Sachs - American Economist
  Never , Easy


The longer you wait, the less fun. If you wait until the bitter end, the whole economy can be destroyed.

Author: Jeffrey Sachs - American Economist
  You , End , Fun , Wait


It's not so unusual to run out of someone else's currency.

Author: Jeffrey Sachs - American Economist
  Run , Out , Someone , Currency


Russia has gone through eight years of continuing economic pain.

Author: Jeffrey Sachs - American Economist
  Russia , Pain , Gone , Economic


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