29th October 2026 – (New York) The International Monetary Fund said Deputy Managing Director Bo Li will depart on 30th November at the conclusion of his term, as Managing Director Kristalina Georgieva proposed China’s Vice Minister of Finance Liao Min to assume the role from 1st December. Georgieva announced the transition on Wednesday, thanking Li for guiding the Fund through recent global turbulence with steadiness and intellectual rigour.
Li, who joined the IMF in August 2021 after serving as a deputy governor of the People’s Bank of China, has overseen work spanning roughly 90 member countries and a broad set of policy areas. His tenure coincided with pandemic aftershocks, commodity price swings and tightening global financial conditions.
Georgieva described Liao as a widely respected policymaker with more than three decades’ experience in banking, financial regulation and macroeconomic management. Liao’s proposed appointment would maintain senior‑level engagement with China at the Fund as it confronts slower global growth, elevated debt burdens and continued policy recalibration across major economies.
