NUSA DUA – Who runs the world? It might soon be women as a crop of femaleeconomists join IMF chief Christine Lagarde in top positions at majorfinancial bodies.
As the International Monetary Fund and World Bank meet this week in Bali,Lagarde no longer cuts quite the same lone figure she once did, now flankedby growing numbers of female finance ministers and economists.
The IMF has just named Gita Gopinath to replace its outgoing chiefeconomist Maurice Obstfeld, making her the first woman to hold the post.
Gopinath, 46, a well-respected economics professor at Harvard Universityand co-editor of the prestigious American Economic Review, is likely tobring a fresh perspective to the institution, and potentially challengelongstanding positions.
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While the IMF has traditionally promoted flexible exchange rates to protectagainst economic shocks, Gopinath’s work has long advocated the opposite.
Lagarde acknowledged the gap between the Fund’s traditional stance andGopinath’s work, saying the Indian-American’s “stellar” reputation wasbuilt around “the role of the US dollar in international transactions, andthe rigidity that it implies”.
But she said Gopinath would continue that work at the Washington-based IMF.
“I am sure that we will be exploring further and deeper those particular(avenues),” Lagarde added.
“There are not many candidates that I can see at the moment that areprepared to be the currency operators, with the responsibility that comeswith it.” – APP/AFP