Executive Director at IMF

Current Context : Parameswaran Iyer has been appointed as India’s new Executive Director at the International Monetary Fund (IMF) in May 2025, replacing Krishnamurthy Subramanian.

• He is an IAS officer of 1981-batch.
• Former CEO of NITI Aayog and credited with leading the Swachh Bharat Mission.
• Previously served as an Executive Director at the World Bank.

About IMF Executive Board:

• Composed of 25 Executive Directors, each representing a country or group of countries.
• Oversees the day-to-day operations of the IMF and is chaired by the IMF Managing Director.
• Approves lending arrangements, surveillance reports, and policy decisions.

About the IMF:

• Founded: 1944 at Bretton Woods Conference; began functioning in 1945.
• Headquarters: Washington, D.C., USA.
• Members: 190 countries (as of 2025).
• Mandate: Ensure global monetary cooperation, financial stability, and facilitate international trade.
• Key Functions:
  • Providing financial assistance to member countries.
  • Monitoring economic and financial policies.