Mark Carney 'fails to make IMF shortlist for top job'

Tom Belger
Finance and policy reporter
Mark Carney, will step down as the governor of the Bank of England in January 2020. Mark Carney. Photo: PA

Mark Carney is reported to have failed to make the shortlist to be the next leader of the International Monetary Fund (IMF).

The Bank of England governor had been widely seen as a possible contender in the race to lead the global financial institution. His tenure at the BoE ends in January 2020.

The Guardian reports the shortlist has been reduced to just a handful of names that does not include Carney.

Christine Lagarde steps down as head of the IMF in September to take over at the European Central Bank.

The list is reported to include Jeroen Dijsselbloem, the former Dutch finance minister; Bulgaria’s Kristalina Georgieva, number two at the World Bank; Olli Rehn, head of Finland’s central bank; Portugal’s Mario Cénteno, chair of the Eurogroup of finance ministers; and Spain’s finance minister, Nadia Calviño.

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Since its creation at the end of the second world war, the IMF has been led by a European.

Analysts predict the tradition is likely to continue this time around, given apparent US support for a European candidate. Carney is Canadian by birth, though he has Irish and British passports.

The European selection process is being run by France, whose finance minister Bruno Le Maire has said he expected a decision on a European candidate by the end of July.