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The End of Poverty: Economic Possibilities for Our Time, by Jeffrey Sachs

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: The End of Poverty: Economic Possibilities for Our Time, by Jeffrey Sachs
: 3/22/2005
: 01:21:00 
  : English
/ : World
:  Economic Development
 Poverty
 
: Vinay Bhargava
Zia Qureshi
Jeffrey Sachs



  
On March 22, 2005 Jeffrey Sachs, Director of the Earth Institute at Columbia University and Special Advisor to UN Secretary-General Kofi Annan on the Millennium Development Goals (MDGs), delivered an address to World Bank staff at World Bank headquarters in Washington, DC. The event, sponsored by the World Bank’s Public Information Center, the InfoShop, served to promote the release of Sachs’s new book, The End of Poverty: Economic Possibilities for Our Time. Vinay Bhargava, Director of Operations and International Affairs for the Bank’s External Affairs Unit, moderated the event, and M. Zia Qureshi, Senior Advisor for Global Monitoring at the Bank, provided comments on the book.

In his address, Sachs emphasized that if the MDGs are to be met, not only must official development assistance from the world’s wealthiest countries be increased, but more broadly the international donor community must adjust its approach to development aid. A key strategy of this change is for rich countries to partner with poor countries.

Sachs commended the World Bank for its work and outgoing President James Wolfensohn for his exceptional leadership over the past decade moving the institution toward the goal of poverty reduction and away from structural adjustment lending. To emphasize his assertion that donors must scale up their development efforts, Sachs shared a series of recent photos from Africa that document the urgent issue of extreme poverty in the world. Sachs ended his remarks with a challenge to the audience, saying “together we can end poverty, but we have to decide to do it.”

A question and answer period followed the presentation. Topics addressed included implications of the Poverty Reduction Strategy Paper (PRSP) initiative, the problem of aggregating middle income and transition countries with the poorest countries when establishing a development agenda, and the evolving role of the international financial institutions.

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