China secures first top-level post at IMF

Reuters News
Posted: Jul 12, 2011 3:31 PM
China secures first top-level post at IMF

WASHINGTON (Reuters) - China secured its first top-level management post in the International Monetary Fund on Tuesday, in a move that recognizes Beijing's growing clout in the global economy.

New IMF Managing Director Christine Lagarde named Chinese economist Min Zhu, a former deputy governor of the People's Bank of China and a special adviser to the fund, to a newly-created deputy managing director post.

She also said White House adviser David Lipton will succeed John Lipsky when he steps down as the fund's No. 2 official at the end of August.