Bota Posted on 2025-01-18 14:44:00

Canada, Carney runs for prime minister - Former Central Bank governor enters race to replace Trudeau

From Kristi Ceta

Canada, Carney runs for prime minister - Former Central Bank governor enters

Former Bank of Canada Governor Mark Carney announced he would run to replace Prime Minister Justin Trudeau as leader of the ruling Liberal Party, saying he wanted to focus on strengthening the struggling economy.

Carney, 59, announced his candidacy in the western city of Edmonton, presenting himself as an outsider who was not part of the former prime minister's unpopular government. Trudeau announced his resignation this month amid lawmakers' discontent ahead of this year's election.

The former head of state, who took office in November 2015, will remain in office until his replacement is named on March 9. Carney's main rival is expected to be former finance minister Chrystia Freeland, whose resignation last month over policy differences led to Trudeau's decision to step down.

The new prime minister is unlikely to be in office for long. The minority government could fall in parliament at the end of March, triggering new elections that polls suggest will be won by the opposition conservatives.

Carney, who was also governor of the Bank of England, is running as a person with considerable financial experience. "I will be completely focused on getting our economy back on track. I have helped manage multiple crises and bail out two economies. I know how business works and I know how to make it work for you," he stressed.

Conservatives say there is little difference between Carney and Trudeau, as he has been "a long-time Liberal insider, an advisor at least since 2020."

Carney worked for Goldman Sachs before joining the Canadian Ministry of Finance in 2004. He was appointed governor of the Bank of Canada in 2007 and soon had to deal with the consequences of the global crisis in 2008. In 2013 he took office as governor of the Bank of England, becoming the first person to lead two major central banks.

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