The International Monetary Fund (IMF) disclosed on Thursday that the current First Deputy Managing Director (FDMD) Geoffrey Okamoto intends to return to the private sector next year so he will be leaving soon. In his place, the fund’s current chief economist Gita Gopinath will be taking over as the new FDMD from January next year.
Kristalina Georgieva, IMF’s present Managing Director called Gopinath a uniquely well-qualified person for the role. According to her, she holds up the exact expertise that the organization is looking for in a First Deputy Managing Director. Georgieva has kept an eye on Gopinath’s exceptional administration in the research department throughout the pandemic. It is noted that the research department has surely become stronger even during the 2020 recession which is considered one of the worst declines in history so that’s why Georgieva has a lot of faith in Gopinath’s leadership. With Georgieva and Gopinath joining in the coming year, it will also be the very first time when the international finance institute will be counseled under two women leaders.
In the recent announcement, Georgieva cited both Okamoto as well as Gopinath as her tremendous colleagues. She expressed her sorrow over Okamoto leaving the post while expressing her delight in Gopinath taking on the role. Georgieva said “I could not be more pleased that Gita has decided to accept this role…” in a statement. Later while talking to Twitter, Gopinath tweeted about her gratitude. She wrote, “honored to become the IMF’s First Deputy Managing Director”. She further expressed her intention of working and helping out her colleagues in the organization.
In 2001, Gita completed Ph.D. from Princeton University and went under the guidance of current prominent economists such as Kenneth Rogoff and Ben Bernanke before he became Federal Reserve chairman. However, the chief economist’s move came as a surprise since she has planned to rejoin Harvard University after three years of civil service in January next year.