Managing
Director of the International Monetary Fund (IMF) Christine Lagarde on Friday
announced her proposal to appoint Zhang Tao, currently deputy governor of the
People's Bank of China (PBOC), as the next deputy managing director of the
organization, effective from August 22.
Zhang, a central
bank veteran with years of experience at multilateral development banks, will
succeed Zhu Min, who is due to step down later this month after finishing his
five-year term as the IMF's deputy managing director, the Washington-based
international lender said in a statement.
"Zhang
brings a strong combination of international economic expertise, public sector
policymaking, and diplomatic skills," Lagarde said, adding that he also
has extensive experience with international financial institutions, excellent
communication and negotiating skills, and a superb knowledge of IMF policies
and procedures.
Zhang has worked
for the World Bank and the Asian Development Bank from 1995 to 2004, and served
as an executive director for China at the IMF from 2011 to 2015. "Indeed,
he is very well known and highly respected here at the Fund," Lagarde said.
Zhang has also
held various positions at Chinese central bank over the course of his career,
including as director general of the department of financial survey and
statistics, director general of the international department, and head of the
legal affairs department, said the IMF.
Zhang holds a
Ph.D. in international economics from the University of California, Santa Cruz,
and was promoted to his current position as deputy governor of the PBOC in May,
2016.
(from ChinaDaily.com.cn)