By PTI
NEW DELHI: Former Chief Economic Adviser Krishnamurthy Subramanian has been appointed as Executive Director (ED) on the International Monetary Fund, a Personnel Ministry order mentioned on Thursday.
Subramanian is presently Professor (Finance), Indian School of Business.
The Appointments Committee of the Cabinet has authorised the appointment of Subramanian to the put up of Executive Director (India) on the IMF, with impact from November 1, 2022 for a interval of three years or till additional orders, by curbing the tenure of Dr Surjit S Bhalla as ED (India), IMF as much as October 31, 2022, it mentioned.
Bhalla was appointed to the put up for 3 years in October 2019.
According to sources, the EDs are elected for a interval of two years via voting by the Governors representing the respective constituency nations.
The subsequent two-year time period of the EDs will begin from November 1, 2022, for which the nominations need to be made inside August 29, 2022 and the voting will occur on October 14, 2022.
Bhalla joined the IMF Executive Board on November 9, 2019, after his election by the constituency nations in that electoral cycle.
He was re-elected within the subsequent electoral cycle for the 2-year interval from 01.11.2020 to 31.10.2022, leaving solely 9 days of the remaining time period as per the GOI’s order, sources mentioned.
As getting India’s nominee elected for a interval of 9 days solely and thereafter inflicting a bye-election for the brand new incumbent would have been impractical, the time period of Bhalla has been aligned with the electoral cycle of the IMF, ie, upto October 31, 2022 by curbing the time period by 9 days, sources added.
Subramanian, who accomplished his three-year tenure as CEA in 2021, can be nominated by India for election by the constituency Governors as per electoral cycle for the time period ranging from November 1, 2022.
The Executive Board of the International Monetary Fund (IMF) consists of 24 Directors (known as Executive Director or ED), who’re elected by member nations or by teams of nations.
Seven of the EDs signify single-country constituencies whereas 17 EDs signify multi-country constituencies.
India is in a four-country constituency having India, Bangladesh, Sri Lanka and Bhutan as members.
NEW DELHI: Former Chief Economic Adviser Krishnamurthy Subramanian has been appointed as Executive Director (ED) on the International Monetary Fund, a Personnel Ministry order mentioned on Thursday.
Subramanian is presently Professor (Finance), Indian School of Business.
The Appointments Committee of the Cabinet has authorised the appointment of Subramanian to the put up of Executive Director (India) on the IMF, with impact from November 1, 2022 for a interval of three years or till additional orders, by curbing the tenure of Dr Surjit S Bhalla as ED (India), IMF as much as October 31, 2022, it mentioned.
Bhalla was appointed to the put up for 3 years in October 2019.
According to sources, the EDs are elected for a interval of two years via voting by the Governors representing the respective constituency nations.
The subsequent two-year time period of the EDs will begin from November 1, 2022, for which the nominations need to be made inside August 29, 2022 and the voting will occur on October 14, 2022.
Bhalla joined the IMF Executive Board on November 9, 2019, after his election by the constituency nations in that electoral cycle.
He was re-elected within the subsequent electoral cycle for the 2-year interval from 01.11.2020 to 31.10.2022, leaving solely 9 days of the remaining time period as per the GOI’s order, sources mentioned.
As getting India’s nominee elected for a interval of 9 days solely and thereafter inflicting a bye-election for the brand new incumbent would have been impractical, the time period of Bhalla has been aligned with the electoral cycle of the IMF, ie, upto October 31, 2022 by curbing the time period by 9 days, sources added.
Subramanian, who accomplished his three-year tenure as CEA in 2021, can be nominated by India for election by the constituency Governors as per electoral cycle for the time period ranging from November 1, 2022.
The Executive Board of the International Monetary Fund (IMF) consists of 24 Directors (known as Executive Director or ED), who’re elected by member nations or by teams of nations.
Seven of the EDs signify single-country constituencies whereas 17 EDs signify multi-country constituencies.
India is in a four-country constituency having India, Bangladesh, Sri Lanka and Bhutan as members.
