News and Analysis

This post was written by Hatchet staff writer Catherine Moran.

A four-person panel part of the International Monetary Fund forum analyzed the financial challenges and possible solutions for Nigeria, India and Rwanda Friday.

Two finance ministers and two economic experts tackled individual factors affecting each country along with the countries’ overall impact on the global economy. Nancy Birdsall, the founding president of the Center for Global Development in D.C., moderated the discussion.

IMF Deputy Managing Director Mitsuhiro Furusawa started off the discussion by expressing optimism for the three countries’ financial futures, but the experts said that isn’t necessarily the case.

1. Nigeria

Kemi Adeosun, the minister of finance for Nigeria, said Nigeria’s overdependence on oil for most of the government’s revenue has put the country’s finances in a vulnerable position. Along with the dip in oil prices, Nigeria ran out of its reserves during the financial crisis of 2008 and now no longer has any financial buffers, she said.

“Indeed it is in tough times you can pull their key reforms,” she said. “All of the success stories of Africa have come from conflict. Economic failures can be a conflict.”

Adeosun said she would like to see Nigeria increase exports, create more jobs and ensure tax collection, especially after it was recently discovered that more than 300 companies in the country never paid taxes. Even with factors like these crippling Nigeria’s economy, Adeosun expressed concern that foreign assistance could destabilize the country.

“There’s a lot of stigma in Nigeria around the IMF that is not positive,” she said. “The IMF thinks it could be a doctor. If we are sick, we have our own local doctors.”

2. India

Arvind Subramanian, the chief economic adviser to the government of India, said India’s economy is improving partly because the country has been democratizing quickly.

“India is doing well,” Subramanian said. “We think that the rough patch will pass over.”

Subramanian stressed the importance of diversification of resources for the financial well-being of countries who depend on one major product or source for revenue, like Nigeria’s dependence on oil.

“When oil prices go up, the frenzy for money will not allow you to do anything,” he said.

3. Rwanda

Claver Gatete, the minister of finance and economic planning for Rwanda, said the nation has worked on stabilizing its economy after the 1994 genocide, but it could improve on three key elements for “establishing an industrial path”: More people allowed to invest in the public sector, an increase in tax pays and businesses taking advantage of the country’s minerals and other commodities.

“After the genocide, we don’t want to leave anyone behind,” he said. “We have to find innovative ways of doing things.”

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This post was written by Hatchet reporter Anthony Tusino.

A man stole items including a laptop and a wallet from two rooms in Potomac House last week, a University Police Department detective said.

UPD detectives saw a “suspicious” man on security footage “roaming the residence hall” on April 5, UPD Detective Matthew Robinson said at a meeting with The Hatchet last week. Robinson said UPD responded to a report of a stolen laptop and a wallet in two separate rooms.

Robinson said officers did not catch the suspect and he was not arrested.

Amy Bhatt, the student who reported the incident, said her $1,200 Macbook Air was stolen after her roommate left the door unlocked. She said she was not in her room when the theft occurred, which was around 11 a.m. on that day, according to documents obtained from the Metropolitan Police Department.

Bhatt said in an email that her laptop, laptop charger and phone charger are missing. She said there is not usually a Community Service Aide checking GWorld cards at Potomac’s entrance in the mornings, when the theft allegedly occurred.

“Had they been there, the man would not have been able to get into the building and all the way up to the eighth floor,” she said.

Bhatt added that she and her roommates no longer feel safe in the building and have encouraged other residents to take safety precautions.

“My floor and others in Potomac now know to keep their doors locked at all times,” Bhatt said.

Bhatt said the University will not reimburse her for the things taken from her room. GW’s risk management policy states that GW will not reimburse students or staff members for stolen electronics unless there is evidence of forced entry.

Sam Eppler contributed reporting.

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Christine Lagarde, the managing director of the IMF, spoke at GW Thursday. Madeleine Cook | Hatchet Photographer

Christine Lagarde, the managing director of the IMF, spoke at GW Thursday. Madeleine Cook | Hatchet Photographer

This post was written by Staff Writer Liz Provencher.

Christine Lagarde, managing director for the International Monetary Fund, analyzed what’s affecting the global economy in Lisner Auditorium Thursday.

The interview, which BBC’s Hardtalk host Stephen Sackur moderated, included both Lagarde’s view of the state of the global economy and discussions of how current events like the presidential election impact the economy.

During the interview Lagarde described the current global economy as “too slow and too fragile” to grow, but assured the audience that it is not in a recession like 2008.

Here’s what the IMF’s managing director had to say on some major economic events:

1. Debt in Greece

Lagarde said Greece’s debt load – which is at 185 percent of the country’s GDP – must get to a level that is “realistic and sustainable” in order to restore the economy.

Lagarde said the IMF has no plans to completely walk away from Greece and their debt. The amount of help the IMF gives depends on different circumstances but “we will not walk away,” Lagarde said.

“Everyone wants Greece to be more solid, stable and independent.” Lagarde said.

2. Great Britain leaving the European Union

In a conversation about what the United Kingdom leaving the European Union could mean for the global economy, Lagarde expressed her love for Britain and said she hopes the UK will continue to be an important part of the EU.

Lagarde said the IMF is still analyzing the costs and benefits on the world economy if Britain were to leave the EU. She said the UK is a “critical” part of the EU and said leaving the EU could potentially harm other countries.

3. IMF lending to corrupted regimes

The IMF has recently given a loan to Ukraine, which is a country known to have government corruption. Lagarde said that while the IMF doesn’t want to support corruption, countries with corrupt regimes often need the most help.

“When we help a country, we don’t go to help the leadership. We go to help the people of the country who are in need.” Lagarde said.

Lagarde also said there have been times where the IMF has supported a country and rescinded the support after learning of “hanky panky business.

4. U.S. presidential election

Sackur ended the conversation with a question about what Lagarde thinks of a Trump-Cruz presidency in 2016. After a quick laugh, Lagarde turned the question back to the economy.

“Any proposal to restrict trade and build barriers is not conducive to a prosperous global economy.” Lagarde said.

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The Office of the Vice President for Research announced a partnership with the University of Rome Tor Vergata Thursday.

Vice President of Research Leo Chalupa signed a collaboration agreement with Fondazione INUIT, University of Rome Tor Vergata Thursday. Chalupa said in an email that the collaboration will create a structure for both institutions to explore joint opportunities for research, especially around cultural heritage and other shared priorities.

Chalupa, who is “mostly fluent” in Italian, said the new agreement with the University of Rome has grown out of longstanding relationships with colleagues in Italy.

“GW is committed to enhancing the global reach of our research enterprise,” Chalupa said. “By collaborating with international partners, GW is building capacity for new research opportunities.”

Chalupa was hired as the University’s first vice president for research in 2009 with goals of becoming a top-tier research institution.

The University of Rome also presented Chalupa with a distinguished professor award and he gave a lecture on the strategies for building university research at the University in Rome, according to a release.

Chalupa said the goal of the partnership is for GW investigators to partner with peers in Italy to secure grants from European Union sources.

“While in Rome I discussed the breadth of research at GW, the university’s international research portfolio, and the establishment of focused university-wide research initiatives,” Chalupa said.

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Thursday, April 14, 2016 4:52 p.m.

Passengers safely evacuated from stuck Metro train

A Metro train broke down in a tunnel near Rosslyn station Thursday afternoon, according to FOX 5. All 100 to 200 passengers were safely evacuated onto the Rosslyn platform.

Sherri Ly, a Metro spokesperson, said the incident happened shortly after 2 p.m. and the train was stuck for about an hour.

“It appears to be some sort of mechanical difficulty,” she said.

Metro safety has come under intense scrutiny since a Metro car filled with smoke at L’Enfant Plaza last year. One woman died and more than 30 passengers were treated at GW Hospital after the incident.

Last month, Metro officials shut down the entire system for nearly 30 hours to inspect cables after an electric cable fire. Metro lost $2 million in revenue in the closure.

Robin Eberhardt contributed reporting.

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The Foggy Bottom Metro station name may be about to get a little longer.

A Metro committee on Thursday approved adding “Kennedy Center” to the current title of the Foggy Bottom-GWU Metro stop, NBC Washington reported.

The Foggy Bottom station, the closest to campus, is also the closest Metro stop to the renowned performing arts center.

The same committee also approved officially renaming the Smithsonian station, the “Smithsonian-National Mall,” station, according to NBC Washington.

Both proposals will now go before the Metro board, where they will need to be approved by April 30.

If approved, the new signs would likely be installed in a few years when the next phase of the Silver Line opens, according to NBC Washington.

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Thursday, April 14, 2016 1:16 p.m.

IMF panelists discuss refugee crisis

Panelists including Managing Director of the International Monetary fund discussed the refugee crisis during their spring conference Wednesday. Camille Ramasastry | Hatchet Photographer

Panelists including Managing Director of the International Monetary fund discussed the refugee crisis during their spring conference Wednesday. Camille Ramasastry | Hatchet Photographer

This post was written by Hatchet reporter Justine Coleman.

As part of the International Monetary Fund spring meeting, a panel of experts gathered on Wednesday afternoon in Lisner Auditorium to discuss the global implications of the Syrian refugee crisis.

Specialists from Jordan, Europe and the U.S. spoke about the economic and political issues regarding the massive migration of refugees. Managing Director of the IMF Christine Lagarde sat on the panel. Ali Velshi, previously the host of “Ali Velshi On Target,” moderated the panel.

Here’s what these experts recommended to help refugees:

1. Approach problems in new ways

Lagarde said the critical situation calls for a combined effort and a “bigger, bolder and broader approach.”

“I think that the volume of financing and support has to be bigger than what we hear or what people think of at the moment,” Lagarde said. “It has to be broader because it needs to approach the problem in a multi-dimensional way and it has to be bolder because we need to invent new ways of dealing with these issues.”

2. Accept the global scale of the crisis

The panelists said the impending issue with Syrian migration was not recognized worldwide until it reached Europe.

Kristalina Georgieva, the European Commission’s vice president for budget and human resources, said the “good news” was that the Syrian arrival in Europe allowed European countries to recognize the problem did not only impact Syria and its bordering countries.

“Bad news: How did we learn it? When a slow-moving tsunami came and hit us,” she said.

3. Help countries that are taking the burden

Jordan’s Minister of Planning and International Cooperation Imad Fakhoury said even though the world has only recently called attention to it, Jordan has been dealing with Syrian refugees for almost six years.

“These past five years they are like a tsunami that has been slowly chipping into Jordan,” he said. “Hundreds of thousands of refugees started to cross the borders at the same time in a country that has done incredible work over the many decades in absorbing refugees from Arab countries.”

4. Remember that refugees are people

Assistant Secretary-General for Humanitarian Affairs and Deputy Emergency Relief Coordinator Kyung-wha Kang said an important aspect to consider while analyzing the crisis is that the displaced refugees are human beings.

“These people on the move not because they wanted to but because they had to for their safety and lives that they are human beings,” Kang said. “The primary beginning point has to be their dignity and rights.”

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This post was written by Staff Writer Kendrick Chang.

Police arrested a man for unlawful entry after he had been “escorted out of the emergency room” at GW Hospital Saturday night, according to a Metropolitan Police Department report.

MPD officers Esmeralda Zamora and Andrew Lindsay arrested the man around 10 p.m., according to MPD documents. Police later identified the man as Troy Donnell Proctor, according to the report.

According to the report, he officers asked Proctor, 46, to leave the hospital, at the request of GW Hospital special police officers.

Proctor “refused to leave the premises upon request, and was placed under arrest for Unlawful Entry,” according to the report.

The report said Proctor “subsequently failed to make his identity known to MPD officers.” Proctor later verbally identified himself after he was transported to the Second District station for processing, according to the report.

The report does not indicate whether Proctor was a patient at GW Hospital on Saturday.

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Officials celebrated the official opening of the Cisneros Leadership Institute at a ribbon cutting ceremony Wednesday. Kiana Robertson | Hatchet Staff Photographer

Officials celebrated the official opening of the Cisneros Leadership Institute at a ribbon cutting ceremony Wednesday. Kiana Robertson | Hatchet Staff Photographer

This post was written by Hatchet staff writer Catherine Moran.

Officials celebrated the official launch of the Cisneros Hispanic Leadership Institute at a ribbon cutting ceremony Wednesday.

Alumnus Gilbert Cisneros and his wife Jacki Cisneros donated $7 million last year to create the institute, which will run a pre-college program for high school students who are interested in leadership and service in the Hispanic community and provides $25,000 in GW scholarships.

The leadership institute officially moved into a townhouse on G Street Wednesday.

Cisneros said during the ceremony that he became passionate about helping students succeed after seeing so many of his Latino peers not attend college or drop out.

“I went from high school to the next level,” Cisneros said. “I was lucky to go to college.”

Cisneros said during the ceremony that the institute will increase GW’s diversity and will encourage Latino students to get more involved on campus.

“It’s going to bring in students who bring in different perspectives from different parts of the country,” he said.

University President Steven Knapp said the Cisneros Institute is important to encourage diverse students to apply and attend GW, as well as to set an example for opportunity at higher education institutions.

“For our democracy we have to have situation in which everyone in our society perceives the opportunities from institutions like this are available to everyone,” Knapp said. “That not only has to be a reality, that has to be a visible reality. The Cisneros Leadership Institute is one of the most powerful ways we can make that statement to the world beyond the walls of our campus.”

Guillermo Martinez, a junior double majoring in political science and political communication who received a scholarship from Cisneros’ donation, said the scholarship has given him the opportunity to meet Latino leaders and has helped his family afford his education.

Martinez said he remembered that while he was interning at Congress and working as a summer RA, he talked with his mom on the phone about how his family would have to make financial adjustments if his financial aid package decreased.

“Two days later, I received an email saying that I was selected as a Cisneros scholar,” he said. “At first I couldn’t believe it, but I can honestly say this award came at the right moment.”

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Metro Police Department officers arrested a female for domestic violence at the Elliott School building Friday morning.

Jack Daniel Licoln, 25, reported that the female who was arrested “threw hot coffee” at him after they had an argument at the location, according to Metropolitan Police Department arrest documents. He is a resident of Southeast D.C., according to the documents.

University Police Department Detective Matthew Robinson said in a meeting with The Hatchet that the male who reported the crime was dating the person arrested. They were both prospective students, he said.

The police documents did not name the female who was arrested.

MPD officers Fernando Suriel and Antonial Atkins arrested the woman at about 10:30 a.m., according to the report.

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