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Dr. Krishnamurthy took charge of the Executive Director in the IMF Board from 1 November 2022.
The Government of India has terminated Dr. Krishnamurthy Subramaniam’s International Monetary Fund (IMF) as Executive Director of India with immediate effect. This decision was taken on 6 months before the end of his three -year term i.e. on 30 April 2025.
The name of Dr. Subramaniam was present as Executive Director till 2 May on the official website of IMF, but the post has been shown vacant from May 3.
Subramanian was appointed as Executive Director in the IMF Board in August 2022. Prior to this, he was the 17th Chief Economic Advisor (CEA) of the Government of India from 2018 to 2021.
The appointment committee of the cabinet in the order issued on 30 April approved Krishnamurti to abolish the services with immediate effect. The government has not given any official reason behind this.
Possible reasons for the removal of Krishnamurti
- The questions raised by Dr. Subramaniam on the collection process and rating system of IMF raised differences in the organization.
- In the promotion of his recent book ‘India @ 100’, concerns were also expressed about the misuse and irregularities of the post.
Order of the Ministry of Personnel, in which it is a matter of Dr. Krishnamurthy’s termination …
Asked to reconsider funds given to Pakistan again
The International Monetary Fund is scheduled to have an important meeting on 9 May. India had objected to the $ 1.3 billion loans to be given to Pakistan and said that it should be considered again, as the money received to Pakistan can be used to promote terror.
However, IMF has refused to accept India’s request. He will review the loan being given to Pakistan on 9 May as per the scheduled schedule.
For this reason, the decision to remove the Government of India from the post is surprising. The government has not yet finalized anyone’s name in his place. The name of Finance Secretary Ajay Seth retiring at the end of June is running at the top.
India is preparing to surround Pakistan all -round
India said on Friday that it would ask the Global Multilator agencies (World Bank and Asian Development Bank), including the IMF, to reconsider the funds and loans given to Pakistan. Because India wants to dip the neighboring state diplomatically after the brutal terrorist attack in Pahalgam on 22 April. Actually, 26 tourists were killed in the Pahalgam attack.
What is the Executive Board of IMF, whose director was Dr. Krishnamurthy
IMF is an international institution that gives financial assistance to countries, advises and keeps an eye on their economy. The core team of this institution is the executive board. This team sees which country to give loans, which policies have to be implemented and how to work on the economy of the world.
It consists of 24 members called Executive Director. Every member represents a country or group of country. India has a separate (independent) representative. Which speaks in IMF for India. It also sees that the policies of IMF should not harm the country. If you are going to give loans to a country, then give opinion from India.
Subramaniam was the youngest economic advisor
Subramaniam was the 17th Chief Economic Advisor to the Government of India and was also the youngest person to hold the post. He studied electrical engineering from IIT Kharagpur. Later did MBA from IIM Calcutta.
He received his PhD in Financial Economics from the Booth School of Business at Chicago University. KV Subramaniam also lived in several experts of the Securities and Exchange Board of India (SEBI) and the Reserve Bank of India (RBI).
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