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
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Beer sales decline in Karnataka due to rains, cold weather: Minister Timmapura
Belagavi (Karnataka) (PTI): Karnataka Excise Minister R B Timmapura on Monday said beer sales in the state have witnessed a significant decline. A total of 195.27 lakh boxes of beer have been sold in the state till September 2025, which is 47.46 lakh boxes less than the same period last year, marking a 19.55 per cent negative growth.
He attributed the slump in sales to heavy rainfall and cold weather in the state this year.
The Minister mentioned this in a written reply to the matter raised by opposition chief whip N Ravikumar and MLC K S Naveen under Rule 330 of the Legislative Council. They raised concerns about high number of alcohol consumers in the state suffering from liver cirrhosis/jaundice and proposed that at least 20 per cent of the Excise Department's revenue be allocated for their better treatment.
The revenue generated by the Excise Department is deposited in the state's consolidated fund and spent on the programmes approved in the budget, Timmapur said.
ALSO READ: No confidence motion: Will go by rules, says K'taka Legislative Council chairman
There is no specific system in place to earmark the funds for any purpose.
According to Timmapura, the state government is already providing comprehensive health check-ups and treatment through central and state schemes such as the Pradhan Mantri Jan Arogya Yojana and the National Health Mission, through Public Health centers and super speciality hospitals.
Necessary funds are being allocated in the budget based on the demand of the Health and Family Welfare and Medical Education Departments.
Several members called for action against the sale of substandard liquor and the prohibition of new liquor outlets in the state. Action should be taken to control it, and a gastroenterologist should be appointed in every district.
Leader of the House and Minister of Science and Technology Boseraju affirmed the government's stance, saying it is not encouraging the consumption of alcohol, and actively running awareness campaigns against the harms of alcohol, urging the public to voluntarily control alcohol consumption.
