New Delhi Has To Choose An ED For IMF. Departing Fin Secy Ajay Seth Maybe Frontrunner

But there are other contenders for that post, too. The name of former Pharma Secretary S Aparna (retired IAS: 1988-batch: Gujarat) is doing the rounds. Aparna has successfully served as Executive Director at the World Bank for a three-year tenure between September 2017 and August 2020.

Two other names have also come up — Saurabh Garg (IAS: 91: Odisha), Secretary, Ministry of Statistics and Programme Implementation (MoSPI), and Arunish Chawla (IAS: 92: Bihar), Secretary, Department of Investment and Public Asset Management (DIPAM).

Garg has served for a long time at the Department of Economic Affairs, which is a link ministry for dealing with multilateral agencies, while Chawla has served as a senior economist at the Institute of Capacity Development of the IMF.

According to sources, Seth is one of the top contenders for the coveted post. However, sources added that a decision on the issue will be taken after proper deliberations.

The vacancy was created as the government abruptly terminated the services of K V Subramanian as the ED, IMF, with effect from April 30, six months ahead of his three-year tenure. Following Subramanian’s departure, Parameswaran Iyer was temporarily appointed to the post. 

Besides India, the New Delhi-appointed ED of the IMF also represents Bangladesh, Sri Lanka, and Bhutan, necessitating the concurrence of these countries for the appointment.

“Though the appointment of the IMF ED is done by New Delhi, and it has never been contested, these countries need to be taken on board,” an official told The Secretariat. 

The executive board of the IMF is composed of 25 directors elected by member countries or groups of countries. The executive board is headed by a Managing Director.