Gopinath will succeed Geoffrey Okamoto as first deputy managing director, serving under IMF chief Kristalina Georgieva.

“Today, I’m announcing Geoffrey Okamoto will leave the IMF early next year & proposing chief economist Gita Gopinath to become the new FDMD,”Kristalina Georgieva said in a tweet.

“I look forward to @GitaGopinath , one of the world’s leading macroeconomists, joining the leadership team as our FDMD early next year. I will continue to count on her wise counsel at a time when the pandemic has increased the economic challenges our members face,” the IMF chief said in another tweet.

Georgieva calls Gopinath “the right person” to take the leadership role.“Especially given that the pandemic has led to an increase in the scale and scope of the macroeconomic challenges facing our member countries, I believe that Gita—universally recognized as one of the world’s leading macroeconomists—has precisely the expertise that we need for the FDMD role at this point. Indeed, her particular skill set—combined with her years of experience at the Fund as Chief Economist—make her uniquely well qualified. She is the right person at the right time,” said Georgieva.

Gopinath, who was appointed to her current role in October 2018, was due to return to her position at Harvard University in January but will now leave the university. She was born in India but also is a US citizen.

On her new appointment, Gopinath said: “I am honoured and humbled to become the IMF’s next FDMD. Over the past three years, I have had the opportunity to experience first-hand and be a part of the hugely important work done by the IMF at the intersection of rigorous economic analysis and public policy. It has been so gratifying to see the positive impact of our work on economies and on the lives of so many people worldwide. 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 brilliant and committed colleagues at the Fund, working with whom has been an absolute privilege.”

Gopinath will start in her new role on January 21, 2022.