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Subramanian’s exit: IMF says member countries decide appointment and termination

The Appointments Committee of the Cabinet, in an order dated April 30, had approved the “termination” of his services as IMF’s Executive Director (India), “with immediate effect.”

Krishnamurthy V Subramanian, business news, indian express

Krishnamurthy V Subramanian, who was earlier Chief Economic Adviser, was nominated as IMF’s ED by the government in August 2022 for a three-year term beginning November 1, 2022. (Source: FB)

In the backdrop of the Indian government terminating the services of Krishnamurthy V Subramanian as Executive Director of the International Monetary Fund (IMF), the Fund has said that “appointment and termination of any member of the Executive Board is a decision for member countries to make”.

“The appointment and termination of any member of the Executive Board is a decision for member countries to make. The termination of ED Subramanian is a decision by the Government of India. We wish him well in his future endeavors and look forward to working with his successor,” an IMF spokesperson told The Indian Express.

The Appointments Committee of the Cabinet, in an order dated April 30, had approved the “termination” of his services as IMF’s Executive Director (India), “with immediate effect.” Subramanian had six months left in his three-year term as the IMF’s Executive Director.

The reasons for his exit have not been officially announced. The government is looking for his replacement to be nominated to the IMF Board.

Sources earlier said that concerns were flagged over an “alleged impropriety” relating to the promotion of Subramanian’s latest book India @ 100. Additionally, sources said, there were reports of alleged violation of some “internal IMF protocols.”

Subramanian, who was earlier Chief Economic Adviser, was nominated as IMF’s ED by the government in August 2022 for a three-year term beginning November 1, 2022. He was not available for comment.

Aanchal Magazine

Aanchal Magazine is a Senior Assistant Editor with The Indian Express, serving as a leading voice on the macroeconomy and fiscal policy. With over 13 years of newsroom experience, she is recognized for her ability to decode complex economic data and government policy for a wider audience. Expertise & Focus Areas: Magazine’s reporting is rooted in "fiscal arithmetic" and economic science. Her work provides critical insights into the financial health of the nation, focusing on: Macroeconomic Policy: Detailed tracking of GDP growth, inflation trends, and central bank policy actions. Fiscal Metrics: Analysis of taxation, revenue collection, and government spending. Labour & Society: Reporting on labour trends and the intersection of economic policy with employment. Her expertise lies in interpreting high-frequency economic indicators to explain the broader trajectory of the Indian economy. Personal Interests: Beyond the world of finance and statistics, Aanchal maintains a deep personal interest in the history of her homeland, Kashmir. In her spare time, she reads extensively about the region's culture and traditions and works to map the complex journeys of displacement associated with it. Find all stories by Aanchal Magazine here ... Read More