Skip to content 
Search

Latest Stories

Gita Gopinath’s journey from Kolkata to global role as economist

Gita Gopinath’s journey from Kolkata to global role as economist

GITA GOPINATH will take on a larger role in shaping the policies of the International Monetary Fund (IMF) from January 21 as its first deputy managing director.

Her elevation as the second-ranking official of the global lender is a recognition of her “exceptional intellectual leadership” as its first woman chief economist.


Born in a Malayali-speaking family in the eastern Indian city of Kolkata (formerly Calcutta) in 1971, she did her schooling in Mysore, a city about 150 km (93 miles) from Bangalore, the capital of Karnataka.

According to her, she is an “accidental economist”. She signed up for a three-year degree in economics because she was told it would help her become a bureaucrat.

But India’s economic liberalisation after it came out of its balance of payment crisis in 1991 with a lifeline from IMF had a transformative impact on the country and the turn of events made her pursue a career in economics.

Gopinath graduated in arts from Lady Shri Ram College for Women in Delhi in 1992 and obtained her master’s degree in economics from Delhi School of Economics two years later.

She continued her education in the US and received her MA degree at the University of Washington in 1996, followed by a PhD in economics from Princeton University in 2001; she was also awarded the Woodrow Wilson Fellowship Research Award.

Before joining the IMF, Gopinath, now a US national, worked in various capacities to contribute to the macroeconomic policies of both America and India.

She was a visiting scholar at the Federal Reserve Bank of Boston and a member of the economic advisory panel of the Federal Reserve Bank of New York.

From 2016 to 2018, she was the economic adviser to the chief minister of the south Indian state of Kerala and served as a member of the Eminent Persons Advisory Group on G-20 Matters for India’s federal ministry of finance.

Gopinath joined Harvard University's faculty in 2005, having served as an assistant professor of economics at the University of Chicago’s Booth School of Business.

Her understanding of macroeconomics won her wide recognition. In 2014, IMF named her one of the top 25 economists under 45, three years after the World Economic Forum chose her as a Young Global Leader in 2011.

On her favourite part of the job at the IMF, Gopinath said she gets to work on and learn about 190 countries.

“This means that policy advice must be tailored to the unique circumstances of countries, and I am learning so much about how different economies work”, she told Princeton Economics last year.

“I like how economics can help make the world a better place. Every major issue, be it jobs, inequality, poverty or climate change, cannot be tackled without insights from economics... Economics is about the real world and how people make decisions. Figuring this out can be highly challenging.”

Gopinath, 49, is widely quoted by business leaders worldwide, in a reflection of her influence not just within the Washington-based IMF, but outside.

Previously, her comments on the demonetisation of high-value banknotes by India's prime minister Narendra Modi caused controversy in the country of her birth.

“I don’t think I know a single macroeconomist who thinks that this (demonetisation) was a good idea. And, it’s not something I think should be done for a country such as India and the level of development it has. Japan has the highest cash per capita, way more than India. The cash in circulation, relative to the gross domestic product for India was 10 per cent, whereas in Japan it is 60 per cent. That is not black money; that is not corruption,” she said in an interview published by the Business Standard in 2018.

Gopinath, an overseas citizen of India, is married to Iqbal Singh Dhaliwal, a former Indian administrative service officer who is now the global executive director at Abdul Latif Jameel Poverty Action Lab of Massachusetts Institute of Technology’s department of economics.

More For You

Priyanka Chopra

Priyanka Chopra says she wants strong roles not just ornamental characters

Getty Images

Priyanka Chopra says she is just getting started in Hollywood with 'Heads of State' on Prime Video

Quick highlights:

  • Priyanka Chopra Jonas says she’s just getting started in Hollywood.
  • Stars as a fierce MI6 agent alongside Idris Elba and John Cena.
  • Gets into serious action mode with explosions, helicopters, and hand-to-hand combat.
  • Says her journey is still evolving, with much more to explore in the West.

Priyanka Chopra Jonas may have ruled Bollywood for over two decades, but the global star believes she’s still “nascent” in her Hollywood journey, and that’s what makes it exciting.

The Quantico and Citadel actor stars in the new Amazon Prime Video film Heads of State, playing a sharp MI6 agent named Noel Bisset. Her character has a complicated history with British Prime Minister Sam Clarke (played by Idris Elba) and is tasked with protecting him and the newly elected US President Will Derringer (John Cena) when they're attacked before a major NATO conference.

Keep ReadingShow less
Arijit Singh

Arijit Singh becomes most followed musician on Spotify

Getty Images

Arijit Singh overtakes Taylor Swift and Ed Sheeran to become most followed artist on Spotify

Quick highlights:

• Arijit Singh makes global music history with 151 million Spotify followers

• Surpasses Taylor Swift and Ed Sheeran in follower count

Keep ReadingShow less
Manchester Police probes over 1,000 child sexual abuse suspects

Photo for representation. (iStock)

Getty Images/iStockphoto

Manchester Police probes over 1,000 child sexual abuse suspects

GREATER MANCHESTER POLICE is now investigating more than 1,000 child sexual abuse suspects, following years of public criticism and institutional failings in tackling child sexual exploitation.

A new report by His Majesty’s Inspectorate of Constabulary and Fire & Rescue Services (HMICFRS) has revealed the force has made “significant improvements” in dealing with group-based sexual abuse and related crimes.

Keep ReadingShow less
Diwali

This year’s Diwali event will still see Belgrave Road continue to host what is left of the festival. (Representational image)

Major changes announced for Leicester’s Diwali celebrations amid safety fears

LDRS

THIS year’s annual Diwali celebrations will be stripped back amid public safety fears. Leicester City Council has said there will be no fireworks or stage entertainment as part of major changes announced for the event.

Cossington Street Recreation Ground will also not be used for the festivities, the council has revealed. The green space previously was the location for the main stage and the Diwali Village with its food stalls, funfair rides, fashion and arts. The annual fire garden display was also based there, offering “a peaceful oasis amid the festive excitement”.

Keep ReadingShow less
Liam Gallagher

Liam Gallagher arrives for the special screening of Oasis documentary "Supersonic"

Getty Images

Liam Gallagher apologises for racial slur after backlash as Oasis reunion tour kicks off

Quick highlights:

  • Liam Gallagher issued an apology after using a racial slur in a now-deleted social media post.
  • The offensive post appeared just days before Oasis kicked off their reunion tour in Cardiff.
  • Fans criticised the singer on X, prompting him to clarify it was unintentional.
  • Oasis will perform over 40 shows globally, starting 5 July in Wales.

Liam Gallagher has apologised for using a racial slur in a post on X, as Oasis reunites for their first tour in 15 years. The singer shared a one-word reply on Monday that included a derogatory term aimed at East Asian people. Though he quickly deleted it, screenshots circulated online, sparking widespread criticism.

In a follow-up post on Tuesday, Gallagher wrote: “Sorry if I offended anyone with my tweet before it wasn’t intentional you know I love you all and I do not discriminate. Peace and love LG x.”

Keep ReadingShow less