Parameswaran Iyer

The Government of India has nominated Parameswaran Iyer, India’s current Executive Director at the World Bank, as the Temporary Alternate Executive Director to the International Monetary Fund (IMF), according to official sources. The nomination follows the abrupt termination of Dr Krishnamurthy Subramanian’s tenure as India’s Executive Director at the IMF.

A government official confirmed, “ED WB, in addition to his position in the WB, has been nominated as Temporary Alternate Executive Director in IMF.” This interim arrangement is expected to ensure continuity in India’s representation at the IMF amidst a leadership shake-up.

Iyer’s appointment comes immediately after the Appointments Committee of the Cabinet approved the termination of Dr Subramanian’s services on Monday. The order, issued by the Ministry of Personnel, Public Grievances and Pensions, stated: “The Appointments Committee of the Cabinet has approved termination of services of Dr. Krishnamurthy Subramanian as Executive Director (India) at the International Monetary Fund with immediate effect.”

Subramanian took charge as India’s representative at the IMF on 1 November 2022, with a mandate to represent India, Bangladesh, Sri Lanka and Bhutan. However, his tenure was cut short, raising speculation in policy and diplomatic circles. Though the government did not officially state a reason, some reports suggest his dismissal may be linked to alleged impropriety involving the promotion of his recent book India @100, possibly using his official capacity for personal publicity.

Parameswaran Iyer, who now takes on the additional IMF role, is a seasoned bureaucrat known for his work in sanitation and public policy. He previously served as CEO of NITI Aayog and is widely credited for leading India’s flagship Swachh Bharat Mission.