India recalls Krishnamurthy Subramanian from IMF six months before term end

An official order issued by the Appointments Committee of the Cabinet (ACC) on April 30, reported India Today.

"The Appointment Committee of the Cabinet (ACC) has approved termination of Dr Krishnamurthy Subramanian as Executive Director (India) at the International Monetary Fund with immediate effect," read the order.

Subramanian, who served as India’s Chief Economic Adviser from 2018 to 2021, had been nominated to the IMF post in August 2022.

He assumed charge on November 1 that year for a three-year term, but his departure comes with six months still remaining.

IMF lists India's seat as 'vacant' from May 3

The IMF's website has now updated the listing for the constituency that includes India, Bangladesh, Bhutan and Sri Lanka, showing the Executive Director’s position as “vacant” from May 3. Subramanian remains listed in the role till May 2.

The timing of Subramanian’s removal has sparked speculation, as it comes just ahead of the IMF Executive Board's May 9 meeting, where financial assistance to Pakistan is scheduled for review.

India is expected to oppose any further support, citing Pakistan’s continued involvement in cross-border terrorism — concerns that have intensified following the April 22 terror attack in Jammu and Kashmir’s Pahalgam.

Before Subramanian, the position was held by economist Surjit Bhalla, who was first appointed in November 2019 and then re-elected in 2020 for another two-year stint.

The government has not yet named Subramanian’s successor to the crucial role.