Washington:International Monetary Fund (IMF) Managing Director Kristalina Georgieva has announced that Deputy Managing Director Bo Li will leave the organization on November 30, 2026, at the end of his term. Min Liao, currently Vice Minister of Finance of China, is proposed to succeed him from December 1.
According to United News of Bangladesh, Georgieva praised Li's contributions since he joined the IMF in August 2021, highlighting his role in guiding the organization through challenging global economic conditions. Li has been instrumental in leading the IMF's work on various policy issues and has played a key role in launching the Fund's first Enterprise Risk Management policy and modernizing its data governance framework.
Li's tenure included significant work on digital money, cross-border payments, stablecoin regulation, and engagement with small developing states. He also supported debt restructuring under the Common Framework and advanced the IMF's agenda on governance and corruption. More recently, he spearheaded efforts on integrating artificial intelligence into the Fund's operations.
Georgieva expressed her gratitude for Li's wise counsel and dedication, noting the lasting impact he leaves on the organization. In announcing Liao's proposed appointment, she emphasized his extensive experience in banking, financial regulation, and macroeconomic governance. Liao's engagement in global macro-policy coordination and his expertise in fiscal and monetary policy are seen as valuable assets to the IMF.
Liao has served as Vice Minister of Finance since May 2018 and has held various significant positions in China's financial sector, including Director-General roles at the Central Leading Group for Financial and Economic Affairs and the Shanghai Banking Regulatory Bureau. His academic credentials include a master's degree in economics from Peking University and an MBA from the University of Cambridge.