Governor of the People’s Bank of China (PBOC), Pan Gongsheng, is preparing for his first major international appearance at the International Monetary Fund’s (IMF) Annual Meetings in Marrakech today. This marks his first significant overseas venture since assuming office from Yi Gang in July 2023.
In his role as the head of the world’s second-largest economy, Pan is expected to engage in discussions with global leaders including US Treasury Secretary Janet Yellen and IMF Managing Director Kristalina Georgieva. The conversations will cover a range of topics, including Beijing’s role in debt restructuring and economic stimulation amid a property crisis and weak consumer confidence.
Pan’s defense of the yuan strategy will be under scrutiny, particularly as Finance Minister Liu Kun approaches retirement. His comments on monetary policy and the health of China’s economy will be closely watched by international observers.
The PBOC governor is also expected to underscore China’s recent agreement with the Paris Club on Zambia’s debt relief. This groundbreaking deal signifies China’s commitment to the G-20 common framework for debt disposal. The relationship between PBOC and the State Council, China’s chief administrative authority, will also be a central point of discussion.
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