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Home » Business » Gita Gopinath Becomes IMF No 2: What Led To The Fund’s First Woman Chief Economist’s Elevation

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Gita Gopinath Becomes IMF No 2: What Led To The Fund’s First Woman Chief Economist’s Elevation

The International Monetary Fund acknowledged Gopinath’s contribution to the global economy in the difficult times of coronavirus

IMF First Deputy Managing Director Gita Gopinath (Image: Twitter/ @KGeorgieva)

New Delhi: IMF chief economist Gita Gopinath has been promoted as its First Deputy Managing Director. The Indian-American IMF economist takes over the role from Geoffrey Okamoto who plans to leave the International Monetary Fund early next year. Gopinath, 49, has served as the first female chief economist of the Washington-based global lender for three years. She was scheduled to return to her academic position at Harvard University in January 2022, but Gopinath decided to stay and take over the new role.

Welcoming Gopinath’s decision, IMF Managing Director Kristalina Georgieva said, “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 First Deputy Managing Director (FDMD).” The International Monetary Fund acknowledged Gopinath’s contribution to the global economy in the difficult times of coronavirus. Here’s a look at what led to the economist bagging the post of First Deputy Managing Director:

Contribution To IMF’s Work: According to Georgieva, Gopinath’s contribution to the Fund’s work has already been exceptional, especially 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.”

A Respected Leader: Gopinath has garnered respect and admiration across member countries and the institution with a proven track record in leading analytically rigorous work on a broad range of issues, the IMF Managing Director went on to say.

One Of World’s Leading Macroeconomists: “Especially given that the pandemic has led to an increase in the scale and scope of the macroeconomic challenges facing our member countries, I believe that Gita — universally recognised as one of the world’s leading macroeconomists — has precisely the expertise that we need for the FDMD role at this point. Indeed, her particular skill set — combined with her years of experience at the Fund as Chief Economist — make her uniquely well qualified. She is the right person at the right time,” Georgieva said in a statement.

ALSO READ: ‘Right Person At The Right Time’: IMF’s Gita Gopinath To Take Up Top Role

Strengthened IMF’s Research Dpt: Under Gopinath’s leadership, the IMF’s Research Department had gone from “strength to strength,” particularly highlighting its contributions in multilateral surveillance via the World Economic Outlook, a new analytical approach to help countries respond to international capital flows (the integrated policy framework).

Work On Pandemic: Gopinath’s recent work on a pandemic plan to end the COVID-19 crisis by setting targets to vaccinate the world at feasible cost, said the IMF’s Managing Director.

(With PTI Inputs)

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