IMF chief to appoint China’s central bank official as deputy managing director

Managing Director of the International Monetary Fund (IMF) Christine Lagarde on Friday appointed Chinese central banker Zhang Tao as the next deputy managing director of the organization, effective from August 22.

Zhang, currently deputy governor of the People’s Bank of China (PBOC), will become the second Chinese national to hold one of the four deputy managing director posts.

In a statement, Lagarde hails Zhang’s “international economic expertise, public sector policymaking and diplomatic skills,” as well as “a superb knowledge of IMF policies and procedures.”

Zhang was promoted to his current position as deputy governor of the PBOC in May, 2016.

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