IMF Chief Economist Gita Gopinath calls on PM Narendra Modi

“Chief Economist of the IMF, @GitaGopinath called on PM @narendramodi,” Prime Minister’s Office said in a tweet.

This meeting comes in the wake of an announcement by the IMF that its First Deputy Managing Director (FDMD) Geoffrey Okamoto will resign next year, and Chief Economist Gita Gopinath will replace him.

She would replace Geoffrey Okamoto who plans to leave the Fund early next year. Gopinath, who was scheduled to return to her academic position at Harvard University in January 2022, has served as the IMF’s chief economist for three years.

Although Gopinath had been scheduled to return to her academic position at Harvard University in January next year, she decided to stay and accepted the new position, the IMF said in a statement.

“In particular, the FDMD will take the lead on surveillance and related policies, oversee research and flagship publications and help foster the highest quality standards for Fund publications,” the release noted.

Gopinath will start her new role on January 21, 2022.

Gopinath, 49, has served as the first female chief economist of the Washington-based global lender for three years.

“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),” said Georgieva.

She said 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.”

She also said Gopinath — the first female chief economist in IMF history — 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.

“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.

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).

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.

“I am honoured and humbled to become the IMF’s next FDMD,” Gopinath said on her new appointment.

Gopinath noted that over the past three years she 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.