IMF Executive Board

News- The Appointments Committee of the Cabinet has appointed Parameswaran Iyer as the new Executive Director, representing India at IMF’s Executive Board.

About IMF Executive Board

The Executive Board of the IMF is responsible for the daily operations of the Fund. It exercises powers given by the Board of Governors and those under the IMF’s Articles of Agreement. It plays a key role in shaping IMF’s policy discussions and country-specific economic assessments.

Structure and Composition

• It is composed of 25 Directors, who are elected by member countries or by groups of countries, and the Managing Director, who serves as its Chairman.
• The Board meets several times a week.
• Each member’s vote is the sum of basic votes (equal for all) and quota-based votes.
• The Board operates mainly on papers prepared by IMF staff.
• Decisions are mostly by consensus, though formal votes occur.

Functions and Powers

• Conducts the Fund’s daily business and oversees staff assessments of member economies.
• Discusses policy issues relevant to the global economy.
• Exercises powers delegated by the Board of Governors, except for those specifically reserved.
• Responsible for implementing decisions as per the IMF’s Articles of Agreement.
• Role is operational and decision-making within delegated powers.