#om

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

#days #debt #demanded #due #lot

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

#been #better #bit #borrow #capital

Let's start fresh with Russia on some real help and some real reform. ↗

— Jeffrey Sachs

#help #real #real reform #reform #russia

Russia has gone through eight years of continuing economic pain. ↗

— Jeffrey Sachs

#economic #eight #gone #pain #russia

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

#actions #almost #america #authority #aware

The basic idea was that if a country would put its economy as an integrated piece of the world system, that it would benefit from that with economic growth. I concur with that basic view. ↗

— Jeffrey Sachs

#basic idea #benefit #concur #country #economic

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

#commitments #especially #followed #idea #indeed

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. ↗

— Jeffrey Sachs

#challenge #countries #drama #economic #emerged

The truth of good economic doctoring is to know the general principles, and to really know the specifics. To understand the context, and also, to understand that an economy may need some tender loving care, not just the so-called hard truths, if it's going to get by. ↗

— Jeffrey Sachs

#care #context #economic #economy #general

We've taken the view that if the rest of the world would democratize and create market economies, that would spread the benefits of prosperity around the world, and that it would enhance our own prosperity, and our own stability and security, as well. ↗

— Jeffrey Sachs

#around #benefits #create #economies #enhance