Press Release No. 21/196

IMF Managing Director Kristalina Georgieva Proposes Appointment of Mr. Bo Li as Deputy Managing Director

June 28, 2021

Washington, DC: Ms. Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), announced today to the Executive Board of the IMF her proposal to appoint Mr. Bo Li as Deputy Managing Director, effective August 23, 2021. Mr. Li is currently Deputy Governor of the People's Bank of China (PBOC). He will succeed Mr. Tao Zhang, who, as previously announced, steps down on August 22.

In announcing her selection of Mr. Li, Ms. Georgieva said:

"Mr. Li brings extensive experience in central banking and law. During his more than 14 years of service at the PBOC between 2004 and 2018, he held a variety of senior positions, including as head of the legal and regulation department, and of two monetary policy departments. While at the PBOC, he was instrumental in supporting and implementing several important reforms and policies, including state-owned banking reform; anti-money laundering legislation; and establishing a macroprudential policy framework for China.

Mr. Li has also served in a number of other public sector positions in China. He was the Vice Chairman of the All-China Federation of Returned Overseas Chinese from 2018 to 2019. He went on to serve as Vice Mayor of Chongqing Municipality from 2019 to 2021, overseeing the city’s financial sector development, international trade, and foreign direct investment. He returned to the PBOC in April 2021 to take up the position of Deputy Governor.

Prior to joining the PBOC, Mr. Li was a practicing attorney for five years with the New York law firm of Davis Polk & Wardwell.

Mr. Li received his undergraduate education from Renmin University of China in Beijing. He also holds an M.A. degree in Economics from Boston University, a Ph.D. degree in Economics from Stanford University, and a J.D. (magna cum laude) from Harvard Law School.”