Govt terminates services of IMF's Indian executive director Dr KV Subramaniam 6 months ahead of tenure, know why
Sunday, 4 May 2025 Subramanian was appointed to the IMF post in August 2022. Prior to he served as the 17th Chief Economic Advisor (CEA) to the Government of India from 2018 to 2021.
Trump Vs BRICS: In a move set to rattle global markets, former President Donald Trump has issued a severe warning to the BRICS nations and their allies. He threatens to impose a blanket 10% tariff on any country adopting what he terms "anti-American" policies backed by the bloc. This declaration comes after the 2025 BRICS Summit in Brazil, where the member nations, now numbering ten, issued a joint condemnation of recent US-Israel strikes on Iranian nuclear facilities, calling them "illegal."
The BRICS bloc, now representing 45% of the global population and 35% of the world's GDP, has become a significant geopolitical force. In their summit, they also criticized the West's "double standards" on global terror, specifically citing the Pahalgam attack in Kashmir as an example. This direct reference brings the conflict to India's doorstep. Trump claims the tariff letters for 12 countries are already "signed and ready," though sources suggest this could be a strategic bluff to test the bloc's unity.
This escalating tension is rooted in BRICS's core mission: to reduce dependence on the U.S. dollar. With their internal trade hitting $1 trillion in 2025 through local currency systems, the bloc, heavily influenced by China and Russia, is seen as a direct challenge to America's sanctions power and its dominance via institutions like the IMF and G7. For Trump, the bloc's growing anti-West stance and expanding economic influence represents a primary threat to American global leadership, setting the stage for a potential economic war.
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Just hours after Trump’s warning of secondary tariffs on China and India, Beijing has responded with bold defiance. China’s Foreign Ministry declared it will defend its energy and economic interests, warning that “tariff wars have no winners.” Trump’s recent tweet threatens a 25% tariff on India for Russian oil deals—raising questions on who’s next. China, now importing more oil from Russia than ever, has signaled that further U.S. pressure may backfire. As Trump sets a 10-day deadline for Russia to agree to a peace deal, global tensions rise fast.
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The government has prematurely ended KV Subramanian's term as India's executive director at the IMF, effective April 30, 2025, without providing an official... IndiaTimes