The Strategist

Bank of England Chairman Mark Carney can become Head of the IMF

07/08/2019 - 12:04

European politicians are considering nominating Chairman of the Central Bank of Great Britain (Bank of England) for the post of Managing Director of the International Monetary Fund (IMF), Bloomberg reported, citing its sources.

Bank of England
Bank of England
Born in Canada, Mark Carney has UK and Irish passports. If he is appointed, the almost 70 years-old tradition will remain, according to which the IMF is managed by a representative of a European country, while the World Bank is headed by an American.

An agency source added that next week, EU finance ministers may agree to nominate only one candidate for the post of Head of the fund.

It is noted that Carney is suitable for the position, but he is not the only potential candidate.

Prior to this, Carney was involved in developing rules for regulating the global financial sector, held a position in the Canadian government and spent more than 10 years at Goldman Sachs.

Mark Carney has been Chairman of the Bank of England since 2013, and at the end of January 2020 his term in office will expire. Before becoming Head of the Bank of England, he managed the Bank of Canada.


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