The surprise move of Gita Gopinath at IMF: Current Affairs Special Series

The surprise move of Gita Gopinath at IMF: International Monetary Fund Chief Economist Gita Gopinath is going to take over the no.2 official of IMF by succeeding Geoffrey Okamoto. She is the first Indian woman to be appointed to the top position in IMF. 

This is a very surprising move because Gopinath, who is the first woman who has been serving as the IMF’s chief economist, had planned in October to rejoin Harvard University in January to continue her academic role after three years of public service.

Gita Gopinath:

• Born: Kolkata in 1971
• Education:  B.A. and M.A. degree in economics from Delhi University, Second M.A. degree in economics from University of Washington, Ph.D. in Economics
• Career: Appointed as Chief Economist at IMF in 2018. She is a professor at Harvard University, Co-director of International Finance at the National Bureau of Economic Research, adviser at Federal bank of Boston and Federal Reserve Bank of New York, Economic adviser to the CM of Kerala state, and many more

 The IMF has done some changes in the roles and responsibilities of the fund’s senior management team. In which they introduced deputy managing director for the first time and it is gone to the first female named Indian born economist Gita Gopinath. 

The first deputy managing director is selected by the U.S. and has been given appointment by the IMF managing director by its tradition. The Treasury certifies this choice and is proud to the job responsibilities of this role are being reinstated.

The first deputy managing director will be accountable to lead on surveillance and related policies, overseeing research and flagship publications, and helping in promoting the highest-quality standards for fund publications.

Gita Gopinath has led the IMF’s research department through the pandemic era and a 2020 recession that was the worst peacetime decline since the Great Depression. 

Important: It is going to be a historic movement when International Monetary Fund has the female at its first two leading positions. 

International Monetary Fund:

Formed: 27 December 1945

Headquarter: Washington D.C., USA

Member countries: 190

Managing Director: Kristalina Georgieva 

Deputy Managing Director: Gita Gopinath