The International Monetary Fund (IMF) was searching for a Deputy Managing Director to take over the position for the institution. And IMF needed to ‘scoop’ around for the MD but eventually landed on India’s Gita Gopinath. This looked like a twist in light of the fact that Gopinath has once been the institution’s Chief Economist in 2019.
The Washington-based global lender has designated Gita Gopinath, to replace Japanese Geoffrey Okamoto. This appointment comes only two months after she had declared plans to get back to school for a higher education. In her move from top counselor to top executive of the IMF, Gopinath will have a good shot at transforming research into policymaking.
Born in Kolkata, India, the 50-year-old Gopinath studied Economics at the University of Delhi and the University of Washington, and procured her doctorate at Princeton University. After a stretch as an associate teacher at the University of Chicago, she joined Harvard University, where she became the Economics Department’s first female tenured professor in 2010.
At the point when the IMF’s then-Managing Director Christine Lagarde selected her central business analyst, she became the first woman to take up that post. As per her dad, Gopinath was an unremarkable student until 7th grade prior to further improving her grades. Gopinath’s appointment comes at a crucial time for the IMF.
Perpetually criticized for bowing to political pressure and for its willingness to lend to countries with poor human rights records, the lender found itself engulfed in yet another scandal in October 2021, when its chief, Kristalina Georgieva, was forced to deny allegations that she had asked officials to boost China’s ranking in the Doing Business Report when she was the World Bank CEO.
Meanwhile, the fund faces more challenges than ever: ensuring its independence, navigating a needed capital increase and helping countries suffering from the dual challenges of debt and Covid-19 recover quickly.
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