The government has made a sudden request for Krishnamurthy V Subramanian to resign from his position as Executive Director of the International Monetary Fund, with six months remaining in his tenure.
Subramanian began his term at the IMF in 2022 and had previously been the chief economic adviser to the Government of India. The reasons for his removal were not immediately clear.
Who Is Krishnamurthy V Subramanian?
Krishnamurthy V Subramanian, on his appointment to the global financial institution, has had the distinction of being the youngest Chief Economic Advisor in India, serving from 2018 to 2021. As CEA, Subramanian “crafted policy that resulted in India emerging from the once-in-a-century Covid crisis with sound macroeconomic fundamentals,” according to his LinkedIn.
Subramanian’s academic life began as an electrical engineering from the Indian Institute of Technology, Kanpur, graduating in 1994. He then attended the Indian Institute of Management, Calcutta, a leading business school in India, where he was a gold medalist.
Subramanian studied at the University of Chicago’s Booth School of Business and completed his doctorate in financial economics, graduating in 2005. His dissertation was “Theory of Firm Boundary and Financing Choices in Human-capital intensive firms.”
Subramanian began his professional career as a Manager with ICICI Ltd, then as a consultant with JPMorgan Chase, before moving into academia. He joined Goizueta Business School as an Assistant Professor of Finance before becoming a member and Research Director of the PJ Nayak Committee with the Reserve Bank of India. The Naik Committee was formed to review corporate governance in banks in India and to recommend improvements to enhance governance in the Indian banking sector, according to Subramanian’s LinkedIn.
Subramanian spent just over eight years at the Indian School of Business, as well as becoming a Board member with the Bandhan Bank and acted as a Board member at the National Institute of Bank Management. Subramanian was then appointed CEA to the Government of India before being appointed to the IMF.
