OREANDA-NEWS. Ms. Christine Lagarde, Managing Director of the International Monetary Fund (IMF), announced today her proposal to appoint Mr. Tao Zhang as Deputy Managing Director, effective August 22, 2016. Mr. Zhang is currently Deputy Governor of the People's Bank of China (PBOC). He will succeed Mr. Min Zhu, who steps down on July 25.

In announcing her selection of Mr. Zhang, Ms. Lagarde said:

"I am very pleased to propose Tao Zhang as the next Deputy Managing Director. Mr. Zhang brings a strong combination of international economic expertise, public sector policymaking, and diplomatic skills. He also has extensive experience with international financial institutions, excellent communication and negotiating skills, and a superb knowledge of IMF policies and procedures. Indeed, he is very well known and highly respected here at the Fund, having served as Executive Director for China from 2011 to 2015.”

Prior to his current position as Deputy Governor of the PBOC, Mr. Zhang headed the Legal Affairs Department there. Over the course of his career, he has held various positions at the PBOC, including as Director General of the Department of Financial Survey and Statistics, and then Director General of the International Department.