Washington, D.C. — The International Monetary Fund (IMF) has announced the departure of Deputy Managing Director Bo Li at the end of his term on November 30, 2026, and proposed the appointment of China’s Vice Minister of Finance, Min Liao, as his successor, effective December 1.
IMF Managing Director Kristalina Georgieva announced the development, praising Li for his contributions to the institution since joining its senior management team in August 2021.
Georgieva said Li had helped guide the Fund through some of the most challenging periods for the global economy, commending his leadership, policy expertise and dedication to member countries.
During his tenure, Li oversaw the Fund’s engagement with about 90 member countries and led initiatives on enterprise risk management, data governance, digital money, cross-border payments and stablecoin regulation.
He also supported debt restructuring under the Common Framework, strengthened the IMF’s engagement with small developing states and advanced its work on governance, corruption and the integration of artificial intelligence into surveillance, lending and capacity development.
Georgieva described Li’s contributions as lasting, expressing gratitude for his counsel and commitment to the Fund and its membership.
Announcing Liao’s proposed appointment, the IMF chief described him as a highly respected policymaker with more than three decades of experience in banking, financial regulation and macroeconomic governance.
She said his experience in domestic economic reforms and international cooperation would be a significant asset to the institution and its member countries.
Liao has served as China’s Vice Minister of Finance since May 2018. Until 2023, he concurrently served as Vice Minister of the Office of the Central Financial and Economic Affairs Commission.
He has been a member of China’s Monetary Policy Committee since 2023 and previously 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, Bank of China and the China Banking Regulatory Commission. He also served as Director-General of the Shanghai Banking Regulatory Bureau.
Liao has published research on finance, banking supervision, macroeconomic policy and international financial governance.
He holds a master’s degree in economics from Peking University and a Master of Business Administration (MBA) from the University of Cambridge.
(GSF with source from the IMF)
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