Parameswaran Iyer to represent India at IMF vote on fresh tranche to Pak

India’s vote at a key International Monetary Fund (IMF) board meeting on Pakistan on May 9 will be cast by Parameswaran Iyer (pictured), its executive director at the World Bank, following the abrupt recall of Krishnam­u­rthy Subramanian from his IMF post with six months left in his term.

 

A senior government official confirmed that Iyer would represent India at the meeting, which is expected to decide on a new tranche of financial support for Pakistan under the IMF’s 37-month Extended Fund Facility support of $7 billion.

 

Subramanian’s sudden exit from the IMF has raised questions in policy circles. A brief order from India’s Appointments Committee of the Cabinet, dated April 30, announced that it has “approved termination of services of Dr Krishnamurthy Subramanian as executive director (India) with immediate effect”, offering no further explanation.

 

The IMF website has since marked the position as vacant, listing Harischandra Pahath Kumbure Gedara as the alternate director for the constituency representing India, Bangladesh, Nepal, Bhutan and Sri Lanka.

 

Subramanian, who previously served as chief economic adviser in the finance ministry between December 2018 and December 2021, did not respond to messages or emails from Business Standard seeking comment. 

 

He was appointed to the IMF in 2022 for a three-year term.