IMF first deputy managing director Gopinath to leave post in August
Gopinath joined the IMF in January 2019 as chief economist -- the first woman to serve in that role -- and was promoted to first deputy managing director in January 2022.
Gopinath, who had left Harvard University to join the IMF, will return to the university as a professor of economics in the department of economics.
Calling Gopinath "an outstanding colleague -- an exceptional intellectual leader," Georgieva said that "her analytical rigor was paired with practical policy advice to the membership during an especially challenging period, which included the pandemic, wars, the cost-of-living crisis, and major shifts in the global trading system."
A successor to Gopinath is expected to be named "in due course" by Georgieva, according to an IMF statement.
Traditionally, European countries have selected the fund's managing director, while the U.S. Treasury Department has played a key role in recommending candidates for the position of first deputy managing director -- widely regarded as the number two position in the organization's leadership hierarchy.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Malaysia Sun
2 hours ago
- Malaysia Sun
CHINA-TIANJIN-CRUISE-INTERNATIONAL TRAVEL (CN)
Xinhua 23 Jul 2025, 16:45 GMT+10 (250723) -- TIANJIN, July 23, 2025 (Xinhua) -- Travellers process inbound procedures at the Tianjin International Cruise Home Port in Tianjin, north China, July 23, 2025. According to official data, the Tianjin cruise port has facilitated nearly 40,000 inbound and outbound passengers since July of this year, along with 16 cruise ship visits, marking a year-on-year increase of 17 percent. (Xinhua/Sun Fanyue)
Malaysia Sun
2 hours ago
- Malaysia Sun
Slovak state gas firm eyes full Russian supply Bloomberg
Bratislavas energy giant plans to tap Gazprom for all imports, citing cost and competitiveness, the outlet has said Slovakia's largest natural gas company is planning to turn to Russia for 100% of its supplies next year, Bloomberg has reported. Company officials cited cost benefits as EU countries face a ban on spot purchases of Russian energy, the outlet said. The EU aims to phase out Russian energy imports by the end of 2027 as part of its RePowerEU strategy. The plan includes a ban on new pipeline and LNG contracts with Moscow, as well as an end to imports under existing spot agreements. However, the scheme has faced pushback from Slovakia and Hungary. Both countries are expected to receive transitional exemptions, enabling them to continue to uphold long-term contracts with Gazprom. The ban, set to take effect in January, could free up additional pipeline capacity for Slovakia's Slovensky plynarensky priemysel (SPP) and Hungary's MVM Magyar Villamos Muvek, the outlet said on Monday. "Russian gas is the most cost-effective for us, which is why we prioritize it," Michal Lalik, SPP's trade director, told Bloomberg. "We could be buying 100% of our needs, that's about 8 million cubic meters per day." Last week, Slovak Prime Minister Robert Fico said Bratislava had accepted guarantees from the European Commission to limit the impact of a halt in Russian gas supplies. As a result, Bratislava lifted its veto on the EU's 18th package of sanctions against Russia. Slovakia has resisted the EU's push to sever energy ties with Russia, warning of severe economic consequences. Fico has condemned the bloc's plan as "imbecilic," saying it would undermine Slovakia's energy security and destabilize the wider EU. Slovakia, which still receives Russian gas via TurkStream under a long-term contract with Gazprom through 2034, warns that losing access to cheaper supplies would harm its competitiveness. Without Turkstream, Slovakia would be forced to rely on western supply routes - mainly via Germany, Austria, and the Czech Republic - leading to higher transit costs. "Price disparities within the supposedly unified European energy market will distort competition and severely weaken the position of Slovak companies," said Roman Karlubik, vice president of the Federation of Employers' Associations. (
The Sun
3 hours ago
- The Sun
EU trade negotiator to discuss tariffs with US counterpart
BRUSSELS: Top EU trade negotiator Maros Sefcovic is set to speak with US Commerce Secretary Howard Lutnick on Wednesday as tensions over tariffs escalate between the transatlantic allies. The European Commission confirmed the talks, emphasizing efforts to reach a negotiated solution while preparing retaliatory measures worth over $100 billion if discussions fail. 'The EU's primary focus is on achieving a negotiated outcome with the US,' said European Commission trade spokesman Olof Gill. 'Intensive technical and political level contact is ongoing.' The discussions come just before the commission updates EU capitals on the status of trade negotiations with the US. Gill noted that while dialogue remains the priority, Brussels is readying countermeasures should talks collapse. 'We continue in parallel to prepare for all outcomes including potential additional countermeasures,' he said. The EU has already approved retaliatory tariffs set to take effect on August 7 if no agreement is reached. Wednesday's meeting marks the first high-level political discussion since Sefcovic visited Washington last week for talks with Lutnick, US Trade Representative Jamieson Greer, and National Economic Council director Kevin Hassett. Brussels has been balancing negotiations with contingency plans, merging two existing tariff lists into a single package worth 93 billion euros ($108 billion). This combined list, targeting US goods, will be submitted to EU member states for approval and could be enforced as early as next Thursday if talks falter. France and Germany have recently taken a firmer stance, urging a strong response if negotiations fail. Meanwhile, European diplomats revealed that the commission is also drafting restrictions on US services firms, including tech and financial sectors, as a further escalation measure. - AFP
