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.
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