Naoyuki Shinohara, former vice minister of Finance for International Affairs of Japan, will be named as Deputy Managing Director of the International Monetary Fund (IMF), according to a statement released by the IMF on Tuesday. 'I have decided to propose Naoyuki Shinohara as the next deputy managing director to succeed Takatoshi Kato. He possesses vast experience in the arena of international finance,' said Dominique Strauss-Kahn, managing director of the IMF, in the statement. Shinohara, 56, a Japanese national, holds degrees in economics from Tokyo University and public affairs from Princeton University. From July 2007 until this past July, he served as Vice Minister of Finance for International Affairs. He was in charge of developing and implementing Japan's policy responses to the global crisis, especially in the international finance sphere. 'Shinohara has a deep knowledge of the Fund and our work in all aspects and he has occupied various senior positions in the International Bureau of the Ministry of Finance,' said Strauss- Kahn. The appointment requires approval by the Executive Board of the IMF. 