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Gita Gopinath set to become IMF's first deputy managing director IMF
Image Credit: imf.org

Gita Gopinath set to become IMF's first deputy managing director

India Blooms News Service | @indiablooms | 03 Dec 2021, 12:52 pm

Washington/IBNS: In a big promotion, International Monetary Fund (IMF) chief economist Gita Gopinath is set to become the financial institution's first deputy managing director.

Gopinath, 49, will succeed outgoing first deputy managing director Geoffrey Okamoto, who will leave the fund early next year.

In making the announcement Kristalina Georgieva, the IMF’s Managing Director 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 FDMD.” (Ms. Gopinath had been scheduled to return to her academic position at Harvard University in January 2022)."

Georgieva added, "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 recognized 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."

Gopinath, who is a U.S. national and overseas citizen of India, will start in her new position as FDMD on Jan 21, 2022.

On her new role, Gopinath said, "I am honored and humbled to become the IMF’s next FDMD. Over the past three years I have had the opportunity to experience first-hand and be a part of the hugely important work done by the IMF at the intersection of rigorous economic analysis and public policy. It has been so gratifying to see the positive impact of our work on economies and on the lives of so many people worldwide.

"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."