In a significant shift at the International Monetary Fund (IMF), Gita Gopinath, the First Deputy Managing Director (FDMD) and one of the most influential voices in global eill step down from her position in August 2025. Gopinath is set to return to Harvard University, where she will become the inaugural Gregory and Ania Coffey Professor of Economics, the IMF announced this week.
The announcement marks the end of a remarkable chapter for the Indian-American economist, who has been at the helm of the IMF during some of the most turbulent economic periods in modern history.
A Legacy of Leadership During Global Crisis
Gopinath joined the IMF in 2019 as its first-ever female Chief Economist, a historic milestone. In January 2022, she was promoted to First Deputy Managing Director, making her the IMF’s second-highest-ranking official.
Her leadership coincided with an era of unprecedented global economic disruption—from the COVID-19 pandemic to the war in Ukraine, soaring inflation, supply chain shocks, and rising debt distress in developing countries. She played a pivotal role in formulating macroeconomic responses that shaped recovery strategies worldwide.
Gratitude and Reflections on a Transformative Tenure
In a heartfelt message on social media platform X (formerly Twitter), Gopinath expressed her gratitude for the opportunity to serve at the Fund.
“After nearly 7 amazing years at the IMF, I have decided to return to my academic roots. On September 1, 2025, I will rejoin @HarvardEcon as the inaugural Gregory and Ania Coffey Professor of Economics.”
She added,
“I have had the privilege of working closely with the IMF’s brilliant and committed staff, colleagues in management, the Executive Board, and country authorities. I am especially thankful to @KGeorgieva and her predecessor, @Lagarde, for the once-in-a-lifetime opportunity to serve the IMF’s membership during a period of unprecedented challenges.”
A Return to Academia and Research
Before joining the IMF, Gopinath held the position of John Zwaanstra Professor of International Studies and Economics at Harvard. Her return to academia is not just a homecoming but a new beginning. She will assume the newly created Gregory and Ania Coffey Chair, a position that reflects her stature in the academic and policy world.
Gopinath said she looks forward to “pushing the research frontier in international finance and macroeconomics” and mentoring the next generation of economists.
IMF Reacts: A Remarkable Leader and Trusted Voice
IMF Managing Director Kristalina Georgieva confirmed Gopinath’s departure, praising her contributions and leadership during extraordinary global challenges.
“Gita has been a tireless leader, steering our economic strategies during a period of historic upheaval. Her deep intellect, calm presence, and commitment to evidence-based policy made her an indispensable part of our leadership team,” said Georgieva, adding that a successor will be announced “in due course.”
A Trailblazer for Women in Economics
Gopinath’s journey has been especially inspirational for women in economics and policymaking. She not only broke barriers at the IMF but also represented a new wave of globally influential economists who bring diversity and depth to global economic discussions.
Who Will Succeed Gopinath?
With Gopinath stepping down, speculation is rife about her successor. The IMF is expected to announce the new FDMD in the coming weeks. Whoever takes the reins will inherit a complex global economic landscape still recovering from pandemic aftershocks, climate change risks, and rising debt burdens across low-income nations.
Gita Gopinath’s departure from the IMF marks the end of an era. Her nearly seven-year-long journey at the Fund transformed not just the organization’s economic narrative but also brought greater inclusivity, intellect, and innovation to international finance.
As she returns to the lecture halls of Harvard, her legacy as a global economic leader remains firmly etched in the history of the IMF. Her next chapter promises to be equally impactful—as a mentor, researcher, and academic beacon.
