New Delhi: In a sudden step, the government has removed Krishnamurthy Subramanian, its nominee in the IMF Board, ending six months before his tenure.
The decision comes before an important meeting of the IMF Board to decide on a fresh $ 1.3BN climate flexibility loan for Pakistan. The government has raised the east in multilateral agencies including the World Bank and ADB, seeking to block the flow of financial aid to Pakistan. Subramanian did not respond to a text message from TOI late Saturday evening.
Finance Secretary Ajay Seth asked to replace Subramanian
Sources in the government said that the decision to remember K Subramanian from the IMF Board came after the former Chief Economic Advisor in the IMF Board, who questioned the IMF dataset, the latest episode in his clashes with the multilateral agency. In addition, the Indian School of Business Professor is accused of promoting its latest book, ‘India @100: Envisioning Tumoro Economic Powerhouse’.
The government has not yet been named a replacement, although Finance Secretary Ajay Seth, who retires in late June, is seen as a pioneer for the job. Subramanian, who took the current assignment in November 2022, was given a three -year term. According to the IMF website, the government nominates the Executive Director for India, Bhutan, Bangladesh and Sri Lanka, which is now vacant. Harischandra Pah Kumbur Gedara is listed as an alternative director.
Even in the past, IMF was unhappy with some statements made by Subramanian, which decided to step down as CEA in 2021 after the end of his three -year term and returning to educationist. However, 11 months later, he moved to Washington to play a role as Executive Director of IMF.
