Sunil Sabharwal Is Alternate Executive Director of the International Monetary Fund

Sunil Sabharwal Is Alternate Executive Director of the International Monetary Fund

Sunil Sabharwal, who was confirmed by the US Senate after a long waiting, assumed the position as Alternate Executive Director of the International Monetary Fund on Wednesday, March 1st, 2016. US President Barack Obama nominated him for the post in April 2014 and then re-nominated Sabharwal in March 2015.

Given that the US commends more than 16.81 per cent of the total IMF voting share, this is described as one of the most powerful position in the International Monetary Fund. Sabharwal served as board chairman of Ogone, a European e-commerce payment services firm, from 2011-13 and advised Warburg Pincus on its acquisition of easycash, a German network services company, subsequently becoming a board adviser there from 2006-2009.

From 2003-2006, he was senior vice president, strategic investments, at First Data Corp/Western Union and from 1997-2003, held executive posts at GE Capital, including managing director. From 1992-96 Sabharwal worked at the European Bank for Reconstruction and Development, lastly as principal banker. He has a BS from Ohio State University and an MS from the London Business School. Born to an Indian father and a Hungarian mother in New Delhi, his parents separated when he was 9 years old and he later moved to Budapest.

NRI Summit in Haryana cancelled due to Jat Stir

Haryana chief minister Manohar Lal Khattar has announced that the ‘Pravasi Bharatiya Divas’ to be held here on March 9 has been cancelled following the Jat protests for job quotas that led to widespread violence in the state. Hundreds of Non-Resident Indians (NRI), specially belonging to Haryana, had registered themselves for the event.

Khattar said the state had witnessed “unhappy stories and we cannot go forward comfortably with events like an NRI summit though it was a dream event. We will plan it for some other time”.He said the cultural programmes scheduled to be presented during the ‘Happening Haryana’ Global Investors Summit on March 7-8 had also been cancelled. Khattar, however, said the two-day business meet, focused on attracting investment, will be held as per schedule on March 7 and 8.

Properties, business establishments, factories and vehicles belonging to non-Jats were looted and torched at several places in the state. The nine days of violence left 30 people dead and over200 injured.

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