Urjit Patel: New IMF Executive Director Amidst Global Economic Challenges

Former Governor of the Reserve Bank of India (RBI), Urjit Patel, has been appointed as the Executive Director (ED) at the International Monetary Fund (IMF). The announcement came from the Appointments Committee of the Cabinet, led by Prime Minister Narendra Modi, marking the beginning of Patel's three-year term at the international body.

Patel's selection follows the abrupt end of Krishnamurthy Subramanian's term as IMF Executive Director. Known for steering major reforms during his tenure at RBI from 2016 to 2018, Patel's brief stint was marked by crucial economic changes such as demonetisation and the roll-out of the Goods and Services Tax (GST).

Born in Kenya, Patel has occupied influential roles across the national and international financial landscape. With this new appointment at a time of global economic uncertainty, his input is highly anticipated in navigating financial governance and policy at the IMF.

(With inputs from agencies.)