PBoC Deputy Governor Is Tipped as Next IMF Deputy Managing Director
Yicai Global
/SOURCE : Yicai
PBoC Deputy Governor Is Tipped as Next IMF Deputy Managing Director

(Yicai Global) May 23 -- Mr. Zhang Tao, newly promoted deputy governor of the People's Bank of China, may become a future candidate for International Monetary Fund deputy managing director, becoming the country's second international civil servant at the IMF.

Mr. Zhang's recent promotion to deputy governor of the central bank from senior official puts him in a good position to succeed Mr. Zhu Min as deputy managing director of the IMF, a position Mr. Zhu has held since June 2010.

Such an appointment depends on the selection of candidates chosen by IMF Managing Director Christine Lagarde and First Deputy Managing Director David Lipton.

As China becomes more economically powerful, Chinese nationals are holding an increasing number of positions at international financial institutions.

Mr. Yang Shaolin, head of the Department of International Economic and Financial Cooperation at the Ministry of Finance, was appointed managing director and chief administrative officer for the World Bank Group in February.

Mr. Zhang served as the executive director of the IMF's China office between September 2011 and 2015 upon the State Council's appointment and has a good track record at the Washington-based institution. During his term as executive director, Mr. Zhang actively contributed to various activities at the organization and was a key contributor to its quota reform and to the inclusion of the Chinese yuan in the IMF's Special Drawing Rights currency basket.

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