Jeffrey Sachs Quotes & Sayings (Page 2)

“Devaluations are never easy.”

“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.”

“Russia has gone through eight years of continuing economic pain.”

“The essence of Africa's crisis is fundamentally its extreme poverty.”

“I think the IMF helped to detonate the Indonesian crisis.”

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

“White House and State Department foreign-policy experts are overwhelmingly directed towards military and diplomatic issues, not development issues.”

“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.”

“In the early 1990s, when a lot of the developing world opened up to international capital flows... they ended up in very good long-term projects, but projects that weren't going to pay off for five or 10 or 20 years.”

“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.”