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Li Bo, who was appointed deputy governor of China's central bank just two months ago, was nominated to the post of deputy managing director of the International Monetary Fund.
IMF Managing Director Kristalina Georgieva proposed to appoint Li to the post to succeed Zhang Tao, who plans to step down once his five-year term expires in August, the Washington-based lender said in a statement.
A Harvard Law School graduate, Li spent more than 14 years at the People's Bank of China, from 2004-2018, holding a number of senior positions, including as head of the monetary policy department. He had a stint as vice mayor of Chongqing Municipality from 2019 through March this year, where he oversaw the city's international trade, foreign direct investment, and financial sector development, according to Xinhua.
He was appointed PBOC deputy governor in April and participated in the high-profile Boao forum that month, where he spoke about the central bank's digital currency plans. Li will be one of four deputy managing directors at the IMF, alongside Geoffrey Okamoto, who is first deputy MD, Antoinette Sayeh and Mitsuhiro Furusawa.
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