Indian Born Gita Gopinath Appointed Chief Economist | The International Monetary Fund
Gita Gopinath who graduated from the Delhi School of Economics holds a Ph.D. in economics from Princeton University.
Gita Gopinath, presently a professor at Harvard University, has been appointed chief economist of the IMF (International Monetary Fund).
Indian Born Gita Gopinath Appointed Chief Economist will fill the shoes of Maurice Obstfeld, who announced his retirement in July. Christine Lagarde, Managing Director of IMF considers Gita as one of the world’s outstanding economists, with impeccable academic credentials, a proven track record of intellectual leadership, and extensive international experience, as stated in the press statement.
She was formerly employed as a co-director at the National Bureau of Economic Research in the International Finance and Macroeconomics Program. She was also the co-editor of The current Handbook of International Economics and the American Economic Review.
At Harvard University Ms. Gopinath is the John Zwaanstra Professor of Economics and of International Studies.
She will take the International Monetary Fund post at a time when the world is going through a phase of increased protectionism and trade wars, a trend she despises.
She says trade war would be unsettling not only for trade but whole lot of other economic variables including the most sensitive ones, like: interest rates, inflation, and central banks.
She would be the 1st Indian to be occupying the prestigious post at IMF after former Reserve Bank of India governor Raghuram Rajan.
Gopinath had articulated her disbelief when Rajan did not pursue the 2nd term for the post of RBI governor. However, she was quite impartial when she evaluated Rajan’s role as the governor when he finished his second year at Mint Road.
In her own words “No one is flawless, but Rajan would be quite close to as good as it gets,”.
Along with her educational projects, she is also advisor to Pinarayi Vijayan (The CM of Kerala). She lately advised the Kerala state government to be far more judicious on the expenditure front.
When she was selected by the Kerala government, she was labelled as being neo-liberal by hardliners.
To this, Gopinath had responded that she considers herself a trained technocrat and an economist, who rubbishes all ideological labels.
At a time when the Rupee is stressed and slipping in every attempt to regain its value against dollar, Gopinath has her piece of advice — “Usually, legislators might consider what they call a trade weighted exchange rate. And what my research suggests is that you want to duly consider to the exchange rate relation to the dollar, doesn’t matter who you trade with or how the exchange rate fluctuates.”
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