IMF Names Chief Economist
The International Monetary Fund (IMF) this week announced Gita Gopinath as its Chief Economist, making her the first woman and third Indian to hold the important position in the U.S. The others are former Reserve Bank of India GovernorRaghuram Rajan, who was also the Chief Economist of IMF, and Kaushik Basu, the Chief Economist of the World Bank between 2012 and 2016. Gopinath has emerged as one of the leading thinkers on the global financial system. In her recent research, she has focused on the continued dominance of the U.S. dollar in the global financial system. The 46-year-old graduated from Lady Shri Ram College for Women, University of Delhi and went on to get a postgraduate degree from the Delhi School of Economics. She then pursued another Master of Arts degree at the University of Washington and went on to get a Ph.D. in economics from Princeton. In 2001, she joined the University of Chicago as an Assistant Professor before moving to Harvard University as a tenured professor in 2010. She is a Visiting Scholar at the Federal Reserve Bank of Boston and also serves as a member of the Economic Advisory Panel of the Federal Reserve Bank of New York. The international organization -- which is headquartered in DC -- consists of 189 countries working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world. Gopinath’s appointment comes as IMF’s Managing Director Christine Lagarde is raising alarm bells about the health of the global economy, saying international growth may have plateaued. The annual meeting will be held this month in Indonesia, and will bring together most of the world’s finance ministers and central bankers to assess the health and discuss priorities for the global financial system. Gopinath will succeed Maurice Obstfeld, who is set to retire at the end of 2018. More here.