New Delhi, May 6: The International Monetary Fund on Monday said that the termination of services of Executive Director K V Subramanian was a decision taken by the Indian government.
Government of India has terminated services of Subramanian six months ahead of his three-year tenure. The termination was effective April 30, 2025. However, reasons for Subramanian’s exit have not been officially announced.
“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 endeavours and look forward to working with his successor,” IMF spokesperson said when reached out for comments.
According to sources, concerns were raised over an “alleged impropriety” relating to the promotion and publicity of his latest book, ‘India@100: Envisioning Tomorrow’s Economic Powerhouse’.
It is also alleged that Subramanian used his official position to pressurise some institutions to purchase his book.
Subramanian was appointed as the executive director (India) at the IMF with effect from November 1, 2022 for a period of three years. Prior to this, he served as the chief economic adviser to the government.
The executive board of the IMF is composed of 25 directors (executive directors or EDs) elected by the member countries or groups of countries.
India is in a four-country constituency, along with Bangladesh, Sri Lanka and Bhutan as members. (PTI)
