Kristalina Georgieva, the Managing Director of the International Monetary Fund (IMF), announced that she is replacing her deputy, Bo Li. The IMF expects the position to be filled by Min Liao, the current Deputy Minister of Finance of China. Georgieva said that since joining the IMF in August 2021, Li has been a prominent member of the institution’s senior leadership team and a close friend to many. She praised his calm judgment, intelligence, seriousness and humility, noting that these qualities were deeply valued throughout the organization. “Bo leaves a lasting legacy at the Fund and we will miss him greatly,” Georgieva said. “I am personally very grateful for his wise counsel and dedication to the Fund and its members,” she added, a statement quoted by the IMF website and the Bulgarian news agency BTA. Regarding the proposed appointment of Liao, Georgieva described him as a highly respected politician with more than thirty years of experience in banking, financial regulation and macro‑economic management. She highlighted his close involvement in global macro‑economic coordination and in both bilateral and multilateral cooperation in finance and trade. “His experience at the intersection of domestic reforms and international economic cooperation will be a great asset for the Fund and its member countries,” Georgieva said.