The Indian government has terminated the services of Krishnamurthy Subramanian as the country’s Executive Director at the International Monetary Fund (IMF), according to an official order issued on April 30, 2025.
“The Appointments Committee of the Cabinet has approved the termination of services of Dr Krishnamurthy Subramanian as Executive Director (India) at the International Monetary Fund with immediate effect,” the Ministry of Personnel stated in its announcement on Friday.
Subramanian was appointed to the IMF post in August 2022. Before that, he served as the 17th Chief Economic Advisor (CEA) to the Government of India from 2018 to 2021, playing a prominent role in shaping India’s economic policy during a critical period.
The termination coincides with the IMF’s recent downgrade of India’s growth outlook. In its April 2025 World Economic Outlook report, the IMF revised India’s growth projection for the fiscal year 2025–26 down to 6.2%, a decrease of 0.3 percentage points from its January forecast.
The report cited global trade disruptions—including reciprocal tariffs imposed by the US—and domestic economic challenges as key reasons for the more cautious forecast. Nevertheless, the IMF noted that India’s economy remains relatively resilient, supported by private consumption, particularly in rural regions.
No official reason has been cited for Subramanian’s abrupt exit from the IMF role. His successor has yet to be announced.