Gita Gopinath to take on new role at IMF as First Deputy Managing Director
Washington, Dec 3: Indian-American Gita Gopinath, the chief economist of International Monetary Fund, is being promoted as IMF's First Deputy Managing Director, the fund announced Thursday.
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.
"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 FDMD," said Kristalina Georgieva, IMF's Managing Director.
Georgieva 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.
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), and 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.
"As the pandemic continues its grip on us, the work of the Fund has never been more critical and international cooperation never more important. I am very thankful to Kristalina and the Board for this opportunity, and so look forward to collaborating closely with all the incredibly brilliant and committed colleagues at the Fund, working with whom has been an absolute privilege," Gopinath said.
Georgieva noted that given the increasingly complex policy choices and difficult trade-offs facing the IMF's 190 member countries exacerbated by the pandemic some realignment in the roles and responsibilities of the Fund's senior management team is being undertaken.
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 IMF publications, she said.
I am honored to become the IMF’s First Deputy Managing Director. With the pandemic, the work of the Fund has never been more important. I look forward to working with my brilliant colleagues to help our membership face these important challenges.https://t.co/jpp3C7dRog
— Gita Gopinath (@GitaGopinath) December 2, 2021
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3.7 magnitude tremor hits Kutch in Gujarat; no casualty
Ahmedabad (PTI): A tremor of 3.7 magnitude jolted Gujarat's Kutch district on Monday morning, the Institute of Seismological Research (ISR) said.
There was no report of any casualty or damage to property, the district administration said.
The tremor was recorded at 10.44 am with its epicentre 76 kilometres north-north east of Lakhpat, the Gandhinagar-based ISR said.
This is the second seismic activity of more than 3 magnitude this month in the district.
On December 7, a tremor of 3.2 magnitude was recorded in the district, according to the ISR.
Last month, Kutch recorded an earthquake of 4 magnitude on November 18.
Earlier, on November 15, Patan in north Gujarat was jolted by an earthquake of 4.2 magnitude, as per the ISR data.
Gujarat is a high earthquake-risk area.
It suffered nine major earthquakes in the past 200 years, according to data of the Gujarat State Disaster Management Authority (GSDMA).
The earthquake in Kutch on January 26, 2001 was the third largest and second most destructive in India over the last two centuries, according to the GSDMA.
A large number of towns and villages in the district had suffered almost complete destruction in the earthquake, which killed nearly 13,800 persons and left 1.67 lakh others injured.
