Jeffrey Sachs

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.

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.

When people said Africa would change me, I didn't understand what they meant. To see the poverty in the townships, for instance, is overwhelming. I found it heart-wrenching to see young children walking barefoot and hungry in the dirt. I'm the kind of person who wants to change the world right here and now, so I got frustrated.