India Recalls IMF Director Over Criticism of the Fund

The Indian government has withdrawn its representative to the International Monetary Fund (IMF), Krishnamurthy Subramanian, following his public criticism of the institution, Bloomberg reports.

Subramanian, who held the position of Executive Director at the IMF, was expected to complete his term in six months. He previously served as Chief Economic Adviser to Indian Prime Minister Narendra Modi from 2018 to 2021.

In one of his speeches, Subramanian stated that his economic growth forecast for India was more accurate than the IMF’s. He also openly criticised the Fund’s comments regarding foreign exchange interventions by the Reserve Bank of India.

According to Bloomberg sources, Modi’s office had issued several warnings to Subramanian, stressing that criticism of the IMF violated diplomatic protocol.