Gita Gopinath, an Indian American who is the chief economist of IMF (International Monetary Fund) is being promoted as IMF’s First Deputy Managing Director which was announced by the fund on Thursday.
She would take the place of Geoffrey Okamoto who decides to take an exit from the Fund early in 2022. Gopinath was scheduled to return at Harvard University to her academic position in January next year, has served already for three years as the IMF’s chief economist.
“Both Geoffrey and Gita are tremendous colleagues — I am sad to see Geoffrey go but, at the same time, I am delighted that Gita has decided to stay and accept the new responsibility of being our FDMD,” stated by Kristalina Georgieva who is the IMF’s Managing Director.
Georgieva stated that the contribution of Gopinath to the work of the Fund has already been extraordinary, specifically her “intellectual leadership in helping the global economy and the Fund to navigate the twists and turns of the worst economic crisis of our lives.” She even stated that Gopinath was the first female chief economist in the history of IMF has got respect and admiration across member nations and the institution as well with a proven record in leading analytically meticulous work on various issues.
Under the leadership of Gopinath, the IMF’s Research Department had gone from “strength to strength,” specifically highlighting its contributions in multilateral surveillance via the World Economic Outlook, a fresh analytical approach to provide aid to the nations respond to international capital flows, and recent work of Gopinath on a pandemic plan to bring an end to the Covid-19 crisis by setting up targets to vaccinate the world at a minimum cost that is feasible for all, stated by the IMF’s Managing Director.
“As the pandemic continues its grip on us, the work of the Fund has never been more critical and international cooperation never more important. I am very thankful to Kristalina and the Board for this opportunity, and so look forward to collaborating closely with all the incredibly brilliant and committed colleagues at the Fund, working with whom has been an absolute privilege,” Gopinath stated.
Georgieva mentioned that given the rising complex policy choices and difficult trade-offs facing the IMF’s 190 member nations — aggravated by the pandemic — some readjustment in the roles and responsibilities of the Fund’s senior management team is being taken up.
In particular, the FDMD shall take the guide on surveillance and related policies, supervise research and flagship publications, and assist to foster the highest quality standards for IMF publications, she stated.