China gains role in top ranks of the IMF
Wednesday 13 July 2011
China has secured its first top-level management post in the International Monetary Fund, in a move that recognizes Beijing's growing clout in the global economy.
The new IMF managing director Christine Lagarde named the 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 that the White House adviser David Lipton will succeed John Lipsky as her deputy when he steps down as the fund's number two official at the end of August.
The moves were widely expected after China endorsed Ms Lagarde, the former French finance minister, to head the fund. They also continue the tradition of appointing an American in the IMF's number two position.
A number of emerging countries had called for the 65-year old tradition of splitting the key roles between the US and Europe to end when Dominique Strauss-Kahn resigned in May. Ms Lagarde beat Mexico's chief bank chief Agustin Carsten to the post last month.
- 3 Daily Show's Jon Stewart destroys Fox News for its Ferguson coverage
- 5 Terror threat level raised to severe as PM warns Isis risk could last for decades
Robin Williams Emmys tribute led by Billy Crystal criticised for including 'racist' joke about Muslim woman
The Rotherham child abuse scandal is a tale of apologists, misogyny and double standards
Scottish independence TV debate: Pumped-up Alex Salmond bounces back in bruising second round against Alistair Darling
Do you realise just how foolish the UK looks?
Ukip Douglas Carswell defection: Tory MP jumps ship to join Nigel Farage
When elitism grips the top of British society to this extent, there is only one answer: abolish private schools
- < Previous
- Next >
iJobs Money & Business
£50000 - £80000 per annum + benefits+bonus+package: Harrington Starr: Data Sci...
£450 - £500 per day: Orgtel: SAS Business Analyst, London, Banking, Credit Ris...
£32000 - £38000 Per Annum Bonus, Life Insurance + Other Benefits: Clearwater P...
£200 - £250 per day + competitive: Orgtel: KYC Analyst, Key Banking Client, Bi...