The International Monetary Fund on Thursday evening appointed its outgoing chief economist Gita Gopinath as first deputy managing director (FDMD), the second-highest post at the multilateral lending agency after that of managing director.
Gopinath was due to leave the IMF in January next year to resume his academic post at Harvard University after serving in the Fund for three years. âI am honored to become the first Deputy Managing Director of the IMF. With the pandemic, the work of the Fund has never been more important. I look forward to working with my brilliant colleagues to help our members meet these important challenges, âGopinath said in a Twitter post.
Gopinath, who is a U.S. national and an overseas Indian citizen, will take up her new role as FDMD on January 21, 2022 after current FDMD Geoffrey Okamoto left the Fund early next year. âGeoffrey and Gita are both great 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. Especially since the pandemic has resulted in an increase in the scale and scope of the macroeconomic challenges facing our member countries, I believe that Gita – universally recognized as one of the world’s leading macroeconomists – has precisely the expertise that we need for the role of FDMD. That much. Indeed, her specific skills, combined with her years of experience at the Fund as Chief Economist, make her particularly qualified. She’s the right person at the right time, “IMF Managing Director Kristalina Georgieva said in a statement.
Georgieva noted that Gopinath’s contribution to the Fund’s work has already been exceptional, particularly his âintellectual leadership in helping the global economy and the Fund navigate the twists and turns of the worst economic crisis of our lives. She also said that Gopinath, the first female chief economist in IMF history, garnered the respect and admiration of our member countries and the institution, with a proven track record of leading rigorous analytical work. on a wide range of issues.
Under Gopinath’s leadership, the IMF’s Research Department has grown steadily, highlighting in particular its contributions to multilateral surveillance through The World Economic Outlook, a new analytical approach to help countries respond to international capital flows. (the integrated policy framework), and Gopinath’s recent work on a pandemic plan to end the COVID-19 crisis by setting goals to immunize the world at a reasonable cost, Georgieva said.
Prior to his appointment as the IMF’s Chief Economist, Gopinath was John Zwaanstra Professor of International Studies and Economics in the Department of Economics at Harvard. She has been a visiting scholar at the IMF and the Federal Reserve Bank of Boston, a member of the Economic Advisory Group of the Federal Reserve Bank of New York, Economic Advisor to the Chief Minister of the State of Kerala in India, and a member of the Eminent Persons. Advisory Group on G-20 Issues for the Indian Ministry of Finance.
Gopinath received his PhD in Economics from Princeton University in 2001 after obtaining a BA from the University of Delhi and an MA from the Delhi School of Economics and the University of Washington. She joined the University of Chicago Booth School of Business in 2001 as an assistant professor before moving to Harvard in 2005. She became a full professor there in 2010.
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