India Nominee Takes IMF Stage Amid Critical Decisions

Parameswaran Iyer is appointed as India's nominee director at the IMF following K V Subramanian's exit. Iyer will play a key role in the IMF meeting, discussing a $1.3 billion climate loan and a $7 billion package for Pakistan. India aims to diplomatically challenge Pakistan amid tensions.

Parameswaran Iyer, World Bank Executive Director, has been appointed as India's nominee director at the International Monetary Fund (IMF), stepping in after K V Subramanian's premature exit from the role. The nomination comes at a crucial time as the IMF prepares for a pivotal board meeting on May 9.

This significant board meeting will address a new $1.3 billion climate resilience loan program and review an ongoing $7 billion bailout package for Pakistan. India's strategic move to appoint Iyer reinforces its diplomatic efforts against Pakistan, amid accusations of involvement in a recent terror attack in Pahalgam.

The change follows Subramanian's contentious departure, allegedly due to his challenging views on IMF datasets and his controversial book promotion, 'India@100'. In the absence of India's new nominee, the role would have been filled by the alternate director from Sri Lanka, Harischandra Pahath Kumbure Gedara.

(With inputs from agencies.)