Temporary Appointment
Govt appoints World Bank's Parameswaran Iyer as IMF India executive director
This story was originally published at 08:46 IST on 5 May 2025
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NEW DELHI – The government has nominated World Bank Executive Director (India) Parameswaran Iyer as the temporary alternative executive director (India) of the International Monetary Fund after former ED Krishnamurthy Subramanian's term was abrubtly terminated last week, a senior finance ministry official said. "Iyer will be the temporary voting member for India at IMF and a permanent member may be selected in the next 15 days," the official told Informist.
Subramanian's term was terminated last week, six months ahead of schedule, on the grounds of "diplomatic issues". A few "differences in opinion" between the IMF and Subhramanian led to a tussle, a finance ministry official had told Informist.
Iyer, who was previously the chief executive officer of NITI Aayog, will represent India at a meeting on Friday, when the multilateral body's executive board will hold the first review and likely decide on a new tranche of financial support for Pakistan under the 37-month Extended Fund Facility support of around $7 billion.
India and Pakistan have been at odds following a terrorist attack at a tourist spot near Pahalgam town in Jammu and Kashmir on Apr. 22, in which at least 26 people were killed. Tensions have been rife with the Indian government accusing Pakistan of supporting militants. Both the nations have taken a raft of measures against each other, with India putting the critical Indus Waters Treaty in abeyance and Pakistan closing its airspace to Indian airlines. End
US$1 = INR 84.58
Reported by Priyasmita Dutta
Edited by Tanima Banerjee
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