Krishnamurthy Subramanian appointed as IMF's Executive Director for India

As the tenure of the Executive Director (ED) for India at the International Monetary Fund (IMF), Dr. Surjit S Bhalla is curtailed up to October 31, former Chief Economic Adviser Dr. Krishnamurthy Subramanian, on Thursday, was appointed as the new ED (India) at the IMF, from November 1, for three years.  His appointment was cleared by the Appointments Committee of the Cabinet (ACC) headed by Prime Minister Narendra Modi.

Notably, Subramanian is currently a Professor (Finance) at the Indian School of Business. The Executive Director of IMF is responsible for managing the day to day business of the multilateral financial institution.

Krishnamurthy Subramanian appointed as new Executive Director of IMF

The official order read, “The Appointments Committee of the Cabinet has approved the appointment of Dr. Krishnamurthy Subramanian, Professor (Finance), Indian School of Business and former Chief Economic Adviser to the post of Executive Director (India) at the International Monetary Fund (IMF), w.e.f 01.11.2022 for a period of three years or until further orders, whichever is earlier by curtailing the tenure of Dr. Surjit S. Bhalla as ED (India), IMF up to 31.10.2022."

In October 1, 2019, Bhalla was appointed as the Executive Director for India at the IMF, for three years. In November 2015, the Centre had appointed former RBI deputy governor Subir Gokarn to represent India on the IMF’s executive board.

The those unversed, the IMF executive board is composed of 24 directors who are appointed or elected sometimes by member countries or a group of countries.

The International Monetary Fund ensures the stability of the international monetary system and international payments that enables countries to transact with each other.