News Tech: Former Chief Economic Adviser Krishnamurthy Subramanian has been appointed as Executive Director (ED) at the International Monetary Fund, a Personnel Ministry order said on Thursday.
The Appointments Committee of the Cabinet has approved the appointment of Subramanian to the post of Executive Director (India) at the IMF, with effect from November 1, 2022 for a period of three years or until further orders, by curtailing the tenure of Dr Surjit S Bhalla as ED (India), IMF up to October 31, 2022, it said.
Subramanian is currently Professor (Finance), Indian School of Business.
Bhalla was appointed to the post for three years in October 2019.
As getting India’s nominee elected for a period of 9 days only and thereafter causing a bye-election for the new incumbent would have been impractical, the term of Bhalla has been aligned with the electoral cycle of the IMF, ie, upto October 31, 2022 by curtailing the term by 9 days, sources added.
Subramanian, who completed his three-year tenure as CEA in 2021, would be nominated by India for election by the constituency Governors as per electoral cycle for the term starting from November 1, 2022. The Executive Board of the International Monetary Fund (IMF) is composed of 24 Directors (called Executive Director or ED), who are elected by member countries or by groups of countries. Seven of the EDs represent single-country constituencies whereas 17 EDs represent multi-country constituencies.
India is in a four-country constituency having India, Bangladesh, Sri Lanka and Bhutan as members. (This story has not been edited by Our Editor Team and is generated from a Feed.)