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Senior Fellow Liliana Rojas-Suarez was interviewed by CNN en Español on dealing with the current banking problems in Europe. With the escalation of the banking problems, some countries, such as Greece, need a comprehensive restructuring of their banking systems, while many others need a TARP-like program to support re-capitalizations. As the crisis keeps progressing, liquidity support from the European Central Bank (ECB) is proving insufficient. Assistance from the IMF is pivotal to support not only Europe but also the rest of the world should a full-fledged crisis emerge in Europe. The situation is complicated by the fact that the IMF is in need of greater funds and their largest stake holder, the United States, is not in a position to offer support due to their own political challenges.

Join us in honoring Geeta Rao Gupta, winner of the 2011 Commitment to Development Award, sponsored by the Center for Global Development (CGD) and Foreign Policy Magazine. Bestowed annually since 2003, the Award honors an individual or organization that has made a significant contribution to changing attitudes and policies towards the developing world. Geeta Rao Gupta, former president of the International Center for Research on Women (ICRW), has provided strong leadership in ensuring a steady flow of research evidence about how to translate advocacy for women in the developing world into policy priorities and practical programs. Gender would not have such a fundamental role in development if not for the work that Geeta and her predecessors and successors have championed at ICRW.

Lawrence Macdonald, vice president for communications and policy outreach at the Center for Global Development, explains how CGD helped make $1 trillion available to developing countries after the global financial crisis. In the spring of 2009, the participation of developing countries in the global stimulus was made possible at the G-20 summit. But how much money was needed for the most vulnerable countries and where would it come from? Nancy Birdsall, president of CGD, prepared a note stating that they would need access to 1 trillion dollars to cope with the effects of the crisis. Birdsall then put together a blueprint for making the resources available. By channeling the plan to the right people and testifying in front of Congress, CGD helped to unlock the $1 trillion and make it possible for the IMF and World Bank to help vulnerable countries cope with the crisis.  

In this four-minute clip from 2010, CGD senior fellow William Savedoff and former vice president Ruth Levine tell the story of how CGD’s Closing the Evaluation Gap initiative led to the creation of the International Institute for Impact Evaluation (3ie), a new institute for impact evaluation. Savedoff explains that before the 3ie, there was a gap in information between the implementation of aid programs and the eventual impact of those programs. For example, we knew that schools were built, but how many children attended the school and what did they learn? Such information was not as readily available. Savedoff and Levine formed a working group that promoted two major recommendations in its final report: (1) aid agencies need to invest more in their own capacity to do impact evaluations and (2)  independent institutions need to be created to mobilize and channel funding for high-quality impact evaluations. 3ie became that organization, and with the help of CGD it is working to close the evaluation gap. Learn more about this CGD initiative here.