India's Sudden Move at IMF

In a surprising development, the Indian government has recalled Krishnamurthy Subramanian, its nominee on the International Monetary Fund (IMF) board, six months before his tenure was due to conclude. This decision precedes a critical IMF board meeting to deliberate on a new $1.3 billion climate resilience loan to Pakistan.

Behind the Scenes

Government sources reveal that Subramanian's recall followed his questioning of IMF datasets, marking another chapter in his disputes with the multilateral agency. Additionally, allegations of misconduct related to the promotion of his book, 'India @100: Envisioning Tomorrow's Economic Powerhouse', have surfaced.

Looking Ahead

While the government has yet to announce a successor, Finance Secretary Ajay Seth, retiring in June, is considered a leading candidate. Subramanian's departure leaves a vacancy for the executive director position representing India, Bhutan, Bangladesh, and Sri Lanka at the IMF.