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PratapDarpan > Blog > World News > Former Bank of Canada governor Carney to join race to replace Trudeau: report
World News

Former Bank of Canada governor Carney to join race to replace Trudeau: report

PratapDarpan
Last updated: 16 January 2025 04:50
PratapDarpan
5 months ago
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Former Bank of Canada governor Carney to join race to replace Trudeau: report
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Former Bank of Canada governor Carney to join race to replace Trudeau: report

Former Bank of Canada governor Mark Carney will announce Thursday that he will replace Prime Minister Justin Trudeau as leader of the ruling Liberal Party, CBC News said Wednesday.

Mark Carney, 59, will launch his bid at an event in the western city of Edmonton, CBC said, citing an invitation sent by Liberal MLA George Chahal.

Justin Trudeau announced his resignation this month amid unhappiness among MLAs worried about the party’s poor performance ahead of this year’s election.

Justin Trudeau, who took office in November 2015, will remain in office until his replacement is named on March 9.

“In an era of global challenges…Mark Carney has the experience and leadership skills needed to meet those challenges,” CBC said, citing Chahal’s invitation.

Mark Carney and Chahal’s spokesperson were not immediately available for comment.

Mark Carney’s main rival appears to be former Finance Minister Chrystia Freeland, whose resignation last month over policy differences led to Justin Trudeau’s decision to step down.

The new Prime Minister is unlikely to remain in office for long. The minority government in parliament could be brought down in late March, triggering an election, with polls indicating the official opposition Conservatives will win.

Mark Carney, the only candidate who is not part of the government, has made it clear that he will contest the election as an outsider with considerable financial experience.

He has a close relationship with Justin Trudeau, he said, who last September named him chair of a task force on economic growth.

In an interview with American political comedian Jon Stewart this week, Mark Carney said the government is not as focused on housing and the cost of living as it should be.

Conservatives say there is little difference between Mark Carney and Justin Trudeau.

“Mark Carney has always been a cheerleader for Justin Trudeau’s disastrous policies,” Conservative Leader Pierre Poilievre said in a Facebook post Tuesday.

Mark Carney worked for Goldman Sachs before joining the Canadian Ministry of Finance in 2004. He was named Governor of the Bank of Canada in 2007 and immediately had to deal with the after-effects of the global crisis in 2008.

In 2013 he took over as Governor of the Bank of England, becoming the first person to head two major central banks.

After leaving the bank in 2020, he was appointed United Nations Special Envoy for Climate Action and Finance. He is currently the Chairman of Brookfield Asset Management.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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