New Delhi: Indian School of Business professor (Finance), former Chief Economic Adviser Krishnamurthy Subramanian has been appointed as Executive Director (ED) at the IMF on Thursday.

According to a Personnel Ministry order said that the Appointments Committee of the Cabinet has approved the appointment of Subramanian to the post of Executive Director (India) at the IMF, with effect from November 1^st, 2022 for a period of three years or until further orders. Dr Surjit S Bhalla as ED (India), IMF tenure is upto October 31^st, 2022, it said. Bhalla was appointed to the post for three years in October 2019.

According to sources, the EDs are elected for a period of two years through voting by the Governors representing the respective constituency countries. The next two year term of the EDs will start from November 1^st, 2022, for which the nominations have to be made within August 29^th, 2022 and the voting will happen on October 14^th, 2022.

Subramanian, who completed his three-year tenure as CEA in 2021, would be nominated by India for election by the constituency Governors as per electoral cycle for the term starting from November 1^st, 2022. The Executive Board of the IMF is composed of 24 Directors (called Executive Director or ED), who are elected by member countries or by groups of countries.

Seven of the EDs represent single-country constituencies whereas 17 EDs represent multi-country constituencies. India is in a four-country constituency having India, Bangladesh, Sri Lanka and Bhutan as members.