Former head of Bank of Canada may replace Trudeau as prime minister - Reuters
Former head of the Bank of Canada, Mark Carney (photo: wikipedia.org)
Former Governor of the Bank of Canada, Mark Carney, has announced his intention to run for the leadership of the ruling Liberal Party. This allows him to become the next Prime Minister of Canada, succeeding Justin Trudeau, who has announced his resignation, reports Reuters.
The 59-year-old Carney announced his candidacy during an event in Edmonton, positioning himself as an outsider who was not part of the unpopular Trudeau government.
Before declaring his candidacy for the leadership of the Liberal Party, Carney resigned from his role as UN Special Envoy and stepped down from all commercial positions.
"I resigned all my roles ... cut all my ties. I am all in," he said.
The former Governor of the Bank of England is running as an outsider with substantial financial experience.
"I am going to be completely focused on getting our economy back on track. I've helped manage multiple crises, and I've helped save two economies. I know how business works, and I know how to make it work for you," he said during his introductory speech.
At the same time, according to conservatives, there is little difference between Carney and Trudeau. The former Governor of the Bank of Canada has close ties with Trudeau, who appointed him as head of a working group on economic growth last September.
"As a long-time Liberal insider, advisor at least as early as 2020 ... Carney is the furthest thing possible from an outsider," said a statement from the Conservatives released on Thursday.
What is known about Mark Carney
Carney worked at Goldman Sachs before joining the Canadian Ministry of Finance in 2004. In 2007, he was appointed Governor of the Bank of Canada, quickly addressing the fallout from the 2008 global financial crisis.
In 2013, he became Governor of the Bank of England, becoming the first person to lead two major central banks.
After leaving the Bank of England in 2020, Carney was appointed United Nations special envoy for climate action and finance. He also held a senior position at Brookfield Asset Management and served on the boards of several companies, including bond investor PIMCO and fintech giant Stripe.
Reuters suggests that former Finance Minister Chrystia Freeland could be Carney's main competitor for the position of Prime Minister of Canada. She resigned in December due to political differences, which contributed to Prime Minister Trudeau's decision to step down.
However, the agency notes that the new Prime Minister is unlikely to hold the position for long.
"The minority government could be toppled in Parliament as soon as the end of March, triggering an election that polls indicate the official opposition Conservatives will win," the agency states.
Resignation of the Prime Minister of Canada
On January 6, Canadian Prime Minister Justin Trudeau announced his resignation due to dissatisfaction within the Liberal Party, with concerns about low approval ratings ahead of this year's elections.
Trudeau, who assumed office in November 2015, will remain in power until March 9, when his successor will be named.
Meanwhile, former Deputy Prime Minister and Finance Minister Chrystia Freeland is also a potential candidate for the position of Prime Minister. According to media reports, she is expected to make an official announcement before the inauguration of Donald Trump.
For more details on how events will unfold and who may lead the new Canadian government, read our exclusive article.
