World Bank executive director Parameswaran Iyer to represent India at IMF board

The decision of the government accepts importance as the IMF Executive Board will be completed on May 9, 2025. File | Photo Credit: Reuters

“Parmeswaran Iyer, the Executive Director of the World Bank, is temporarily assigned to the responsibility of being a nominated director of India in the Board of International Monetary Fund (IMF) before the May 9 meeting,” sources said.

Mr. Iyer’s enrollment required to fill a vacancy made with the termination of the services of KV Subramanian as Executive Director in the IMF six months before his three -year tenure.

The government’s decision assumes importance as the IMF Executive Board will meet on 9 May, to call a new $ 1.3 billion loan under a climate flexibility loan program, as well as with the first review of the ongoing $ 7 billion bailout package for Pakistan.

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It should be noted that India are trying to corner Pakistan diplomatically and on various global forums as New Delhi believes it has participation in the Pahgam terror attack, causing 26 tourists to kill last month.

According to sources, India did not nominate Iyer, Sri Lanka of optional Executive Director Harischandra Pahat Kumbur Gerera would have discharged the duties of ED as per the rules of the multilateral funding agency in Washington. The appointment committee of the cabinet has effectively terminated Sugmanian services on 30 April 2025. The reasons for the exit of Subramanian have not been officially announced.

India asked global multilateral agencies to review loans, grant to Pakistan: Source: Source

According to sources, Subramanian is learned to question the IMF dataset, which did not go down well in the corridors of the multilateral agency. Even in the past, IMF was unhappy with some statements made by Subramanian, especially related to India’s debt status.

In addition, sources said, his latest book, ‘India@100: Environment Tumoro Economic Powerhouse’ raised concerns on “allegedly impervious” related to the promotion and promotion of Economic Powerhouse. The Executive Board of IMF is composed of 25 directors (Executive Directors or ED) selected by member countries or groups from countries. India is in a four -country constituency, as well as members with Bangladesh, Sri Lanka and Bhutan.