Arvind Virmani gets plum IMF job
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Arvind Virmani, Chief Economic Advisor in the Ministry of Finance, is being appointed as India's representative in the International Monetary Fund (IMF).
A position at the IMF is sought after within the bureaucracy given that it has a three-year tenure besides earning the appointee dollar income. It is seen as a 'reward' for 'good work' and close-to-retirement bureaucrats are often the beneficiaries.
Virmani, whose two-year tenure as CEA was extended by three months in July, will replace Adarsh Kishore at the Fund. He was earlier in the race for the deputy governorship of the Reserve Bank of India following the exit of Rakesh Mohan.
As CEA, Virmani wrote the Economic Survey, and in the Survey for 2008-09, he had recommended bold reforms, many of which are politically sensitive. He was Principal Advisor in the Planning Commission prior to joining the finance ministry as the CEA. He holds a doctorate in economics from Harvard University.