It’s been an eventful transition for Gita Gopinath, who was scheduled to return to her academic position at Harvard University in January 2022 after having served as International Monetary Fund’s (IMF’s) chief economist for three years. Instead, by the end of 2021, she was appointed the first deputy managing director of the fund, the second-ranking official.
More than the change in designation, Gopinath has her hands full at a time where disintegration of the global economic order is gaining momentum. Gopinath, who received her Ph.D. in economics from Princeton University in 2001, believes breaking away from the global fabric will be catastrophic for economies, both developed and emerging. Given the geopolitical crisis, surging food and energy inflation, slowing capital flows and the ongoing pandemic, there are enough indications that the fund will have to slash growth estimates for current and coming year drastically. During the pandemic, Gopinath and her team made some well appreciated suggestions, including a $50-billion proposal for universal vaccination by mid-2022. In her new role, she has her task cut out to nudge governments to heed to what the fund has to say and in doing so resurrect the faith in IMF’s ability to lead the global economy through its darkest hour. — V. Keshavdev