NEWS
IMF Deputy Managing Director Bo Li To Leave In November, China’s Min Liao Proposed As Successor
IMF Deputy Managing Director Bo Li To Leave In November, China’s Min Liao Proposed As Successor
Bo Li will leave the IMF on November 30, 2026, at the end of his term after joining its senior management team in August 2021.
China’s Vice Minister of Finance, Min Liao, has been proposed to take over the role from December 1.
Li’s portfolio included debt restructuring, digital money, stablecoin regulation, governance and the integration of artificial intelligence into IMF operations.
October 28, () – The International Monetary Fund (IMF) has announced that Deputy Managing Director Bo Li will leave the institution on November 30, 2026, at the conclusion of his term, with China’s Vice Minister of Finance, Min Liao, proposed as his successor.
IMF Managing Director Kristalina Georgieva announced the transition on Wednesday, saying Liao’s proposed appointment would take effect on December 1, subject to the completion of the appointment process.
Li joined the IMF’s senior management team in August 2021 and has overseen the institution’s work involving about 90 member countries, alongside responsibilities covering several major policy areas.
Georgieva praised his contribution to the Fund, citing his role in guiding its work through a period of global economic turbulence and his involvement in policy development across the institution.
Every second brings Nigerians closer to exercising their democratic right and shaping the future of our nation.
Exercise your democratic right responsibly, peacefully and lawfully.
Li’s Work On Debt, Digital Finance And AI
IMF Deputy Managing Director Bo Li Photo credit Yi Cai
During his tenure, Li led the launch of the IMF’s first Enterprise Risk Management policy and roadmap and helped modernise its data governance framework.
Channel
He also guided the Fund’s work on digital money and cross-border payments, including research and policy development on stablecoin regulation.
His responsibilities extended to engagement with small developing states, support for debt restructuring under the Common Framework, and the IMF’s work on governance and corruption.
More recently, Li spearheaded efforts to integrate artificial intelligence into the Fund’s surveillance, lending and capacity development activities.
Georgieva said his departure would leave a lasting mark on the institution, acknowledging his policy guidance and commitment to the IMF and its member countries.
Liao Brings More Than 30 Years Of Policy Experience
Liao, who has served as China’s Vice Minister of Finance since May 2018, brings more than three decades of experience in banking, financial regulation and macroeconomic governance, according to the IMF.
He was also concurrently Vice Minister of the Office of the Central Financial and Economic Affairs Commission until 2023 and has been a member of the Monetary Policy Committee since 2023.
Before his current role, Liao served as Director-General of the Bureau of International Economy at the Central Leading Group for Financial and Economic Affairs.
His earlier career included positions at the People’s Bank of China, China Everbright Group and Bank of China. He also worked at the China Banking Regulatory Commission, where he held positions including Director-General of its General Office, before becoming Director-General of the Shanghai Banking Regulatory Bureau.
His experience covers fiscal and monetary policy coordination, financial supervision, international economic cooperation, and multilateral policy engagement. He has also researched banking, macroeconomic policy and international financial governance.
Liao holds a master’s degree in economics from Peking University and a Master of Business Administration from the University of Cambridge.
Georgieva said his experience in domestic economic reform and international fiscal, financial, and trade cooperation would be an asset to the IMF and its membership.
DO YOU WANT TO WHISTLEBLOW, REPORT FRAUD, THEFT OR INJUSTICE OR INTIMIDATION? SEND US YOUR STORY/REPORT TO NEWSDESK@MEDIATODAY.NG
