A Quote by Jeffrey Sachs

I think the IMF helped to detonate the Indonesian crisis.

Jeffrey Sachs

Quote Topics

Crisis Helped IMF Think

Quote Author

Jeffrey Sachs
American - Economist
Born: November 5, 1954

It seems evident that the IMF has learned nothing from its inequality-inducing policies during the 1980s debt crises in Latin America nor from its recession-deepening response to the East Asian crisis of the late 1990s. In both regions, the IMF has become synonymous with making bad situations worse.

Sharan Burrow

The IMF is a more complicated issue. I think there is a broad sentiment among both the left and the right that the IMF may be doing more harm than good. On the right, there's the view that it represents a form of corporate welfare that is counter to the IMF's own ideology of markets. But anybody who has watched government from the inside recognizes that governments need institutions, need ways to respond to crises. If the IMF weren't there, it would probably be reinvented. So the issue is fundamentally reform.

Joseph Stiglitz

China's accumulation of reserves is a result of the IMF's mismanagement of the Asian financial crisis a decade or so ago. If countries know they can't rely on the IMF to help them, their best defense is their own reserve cushion. In a time of spreading global recession, too much emphasis on savings in surplus countries like China can impede prospects for global growth.

Joseph Stiglitz

We interpret our agreement with the IMF - our participation in the IMF's system of cooperation - as a borrowing agreement. The IMF sees it as an economic policy agreement. This is not in our interest.

Viktor Orban

I absolutely love Indonesian restaurants! We have many Indonesian restaurants in Jakarta and I'd like to be able to visit all of them to taste their food. When I visit a restaurant, I get so many references for food and am inspired to create Indonesian cuisine in my own way.

Rinrin Marinka

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

Jeffrey Sachs

Clothes have helped me a lot, they helped fix my identity crisis.

Nicola Roberts

But such IMF pressure is very much helpful for me to push such a, you know, reform. So in this sense I think IMF is very much helpful for alien society.

Kim Dae Jung

There has been a banking crisis, a financial crisis, an economic crisis, a social crisis, a geostrategic crisis and an environmental crisis. That's considerable in a country that's used to being protected.

Jean-Francois Cope

Rather than waiting for a crisis to erupt before intervening, the IMF should provide 'forward guidance' on how it will tackle potential disruptions in international financial markets.

Gita Gopinath

The IMF played crucial roles in the 1980s debt crisis and in the transformation of former communist economies. Radical change, many might argue, is neither necessary nor desirable.

Zanny Minton Beddoes

We have received unconfirmed reports out of our embassy in Amman in Jordan that two Indonesian nationals, or precisely two Indonesian reporters ... have been taken away by armed individuals.

Marty Natalegawa

There have been many claims that [U.S.] sanctions have hurt Burma economically, but I did not agree with that point of view. If you look at reports by the IMF, for example, they make quite clear that the economic impact on Burma has not been that great. But I think the political impact has been very great and that has helped us in our struggle for democracy.

Aung San Suu Kyi

Political uncertainty around the world has more than doubled since the election of Trump. To find anything comparable we have to go way back, to the late 1920s for example, the times of the Great Depression. Or think of the United Kingdom in the 1970s, when the International Monetary Fund had to help the country out with a dramatic rescue operation. Up until the Greek crisis, that was the last time that the IMF was forced to intervene to such an extent in Europe.

Nicholas Bloom

My country is in the grips of a major economic crisis. This is causing dramatic consequences for the very existence of Polish families. A permanent economic crisis in Poland may also have serious repercussions for Europe. Thus, Poland ought to be helped and deserves help.