Zhu Min, a special consultant of the International Monetary Fund (IMF) president, will be appointed an IMF vice-president on July 26, David Hawley, spokesman of the International Monetary Fund, announced at a regular press release on Thursday.

Zhu Min [file photo]

The new IMF chief Christine Lagarde proposed the appointment Zhu Min on July 12.

Lagarde said at Zhu's nomination speech that Zhu will bring a wealth of experience in government, international policy making and financial markets, strong managerial and communication skills as well as an institutional understanding of the Fund.

"As Deputy Managing Director, he will play an important role in working with me and the rest of my management team in meeting the challenges facing our global membership in the period ahead, and in strengthening the Fund's understanding of Asia and emerging markets more generally. Previously the IMF had only three vice-presidents. Zhu will become the fourth one," Lagarde said.

As Deputy Governor of the People's Bank of China, Zhu was responsible for international affairs, policy research, and credit information.

Prior to his service at China's central bank, he held various positions at the Bank of China where he served as Group Executive Vice president, responsible for finance and treasury, risk management, internal control, legal and compliance, and strategy and research.

Zhu also worked at the World Bank for six years, and taught economics at both Johns Hopkins University and Fudan University.

"On the same day, July 26, David Lipton will start at the Fund," Hawley said. "He will be the Special Advisor to the Managing Director initially before taking over his announced responsibilities as First Deputy Managing Director on September 1."

Related

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