Gita Gopinath, the First Deputy Managing Director of the International Monetary Fund (IMF), has announced her decision to resign from the organisation by the end of August 2025. The move marks the conclusion of a groundbreaking tenure for the Indian-American economist who broke several barriers during her time at the global financial body.
Born in India and now a naturalized US citizen, Gopinath first joined the IMF in 2019 as Chief Economist, becoming the first woman ever to hold the post. In 2022, she was elevated to the number two position in the IMF’s hierarchy, increasingly becoming one of the institution’s most influential public figures during a period marked by the COVID-19 pandemic and global economic turbulence.
Return to academia at Harvard
The IMF formally announced that Gopinath is leaving to return to her academic roots. She will rejoin Harvard University, where she had spent more than a decade teaching prior to her IMF stint. Harvard confirmed that she will resume teaching as the inaugural Gregory and Ania Coffey Professor of Economics, with a new slate of courses planned for the upcoming spring semester.
Explaining her return, Gopinath said, "I now return to my roots in academia, where I look forward to continuing to push the research frontier in international finance and macroeconomics to address global challenges and to training the next generation of economists."
Timing and political implications
Her decision to step down comes more than a year before the end of her term and is expected to have significant political implications. It presents an opportunity for US President Donald Trump to nominate a successor, potentially shifting the IMF’s leadership dynamics amid growing tensions between the US and global institutions like Harvard and multilateral development banks.
It’s worth noting that Gopinath will be returning to Harvard at a time when the university is facing pressure from the Trump administration over issues related to governance and admissions reforms.
Tributes from IMF leadership
IMF Managing Director Kristalina Georgieva praised Gopinath’s contributions and leadership during a challenging period for the global economy. “Gita joined the IMF as a highly respected academic and proved to be an exceptional intellectual leader. Her contributions were critical during the pandemic and in navigating the global economic shocks caused by Russia’s invasion of Ukraine,” Georgieva said in a statement.
Georgieva added that a decision on Gopinath's successor will be made “in due course.”
A once-in-a-lifetime opportunity
In her parting message, Gopinath described her time at the IMF as a “once-in-a-lifetime opportunity.” During her tenure, she worked extensively on policy frameworks for handling global shocks, climate change financing, emerging market vulnerabilities, and post-pandemic recovery.
Her upcoming exit will not only mark the end of a unique chapter in IMF leadership but also sets the stage for renewed academic contributions in international macroeconomics from one of the world’s most respected economists.
