Former Chinese Banker May Get a Key IMF Post

The IMF’s new managing director Christine Lagarde may be considering appointing a former deputy governor of the People’s Bank of China to a senior post.

Min Zhu, a Chinese national, was special adviser to former IMF managing director Dominique Strauss-Kahn. Zhu is expected to be named deputy managing director to a new post that Lagarde is creating.

The new appointment would give China a position in one of the IMF’s top five management jobs.

In her first news conference since taking the job, Lagarde said she wanted greater diversity within the organization’s ranks.

[Christine Lagarde, IMF Managing Director]:
“Diversity is multi-faceted. It is not just about gender, color, religion, sexual preferences, but it’s also about culture. It’s also about academic background. And I think that we need to draw on the resources and the intellect developed in many corners of the world, because that will make us better and richer.”

The appointment of Min Zhu would first need the approval of the IMF’s board of 24 member countries.

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