Zhu Min nominated as Deputy Managing Director of IMF

The International Monetary Fund (IMF) announced Tuesday that its Managing Director Christine Lagarde has proposed the appointment of Zhu Min, currently Special Advisor to the Managing Director, to the position of IMF's Deputy Managing Director.

Lagarde also proposed the appointment of David Lipton, a White House aide, to the position of IMF's First Deputy Managing Director to succeed John Lipsky, whose term ends on August 31, 2011.

Zhu last year joined the IMF as a Special Advisor to the Managing Director from the People's Bank of China (PBOC), China's central bank.

Lagarde has proposed that Zhu assume his duties in the newly created Deputy Managing Director position on July 26, 2011, working with the other three Deputy Managing Directors in support of the Managing Director.

These appointments require approval by the Executive Board of the IMF, Xinhua reported.