The key to ending extreme poverty is to enable the poorest of the poor to get their foot on the ladder of development. The ladder of development hovers overhead, and the poorest of the poor are stuck beneath it. They lack the minimum amount of capital necessary to get a foothold, and therefore need a boost up to the first rung.
Jeffrey SachsIf 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 SachsThe great leaders of the second world war alliance, Franklin Roosevelt and Winston Churchill, understood the twin sides of destruction and salvation. Their war aims were not only to defeat fascism, but to create a world of shared prosperity.
Jeffrey SachsMy colleagues and I took a stand in our work several years ago that we would not look for the magic bullet, because there is none. These are just basic problems requiring basic work. Nothing magic about it.
Jeffrey SachsThe essence of Africa's crisis is fundamentally its extreme poverty and therefore its inability to mobilize out of its own resources even the barest of minimum resources to address any of the public health crises that Africa faces.
Jeffrey SachsThe time has come to end this charade. The debts are unaffordable. If they won't cancel the debts I would suggest obstruction; you do it yourselves. Africa should say: 'thank you very much but we need this money to meet the needs of children who are dying right now so we will put the debt servicing payments into urgent social investment in health, education, drinking water, control of AIDS and other needs.'
Jeffrey Sachs