Home Economy Mark Carney seen as favourite to take top job at International Monetary Fund

Mark Carney seen as favourite to take top job at International Monetary Fund

by Bloomberg News

Bank of England Governor Mark Carney is the favourite to replace Christine Lagarde as managing director of the International Monetary Fund, according to an online oddsmaker.

The Canadian, due to leave the BOE in January, is placed at 7-to-2 to take the IMF job, according to Betway. Lagarde was this week nominated as president of the European Central Bank, and is due to take up the role when Mario Draghi leaves on Oct. 31.

“Though he was born in Canada, Carney meets the criteria by holding an Irish passport and having British citizenship, while his expected departure from the Bank of England in January looks well timed,” said Betway’s Alan Alger.

Former Reserve Bank of India governor Raghuram Rajan, considered one of the frontrunners to replace Carney, is the second favourite at 9-to-2, while former U.K. Chancellor of the Exchequer George Osborne and ex-Federal Reserve Chair Janet Yellen are both seen as 25-to-1 outsiders.

Other potential candidates to succeed Lagarde include Bank for International Settlements head Agustin Carstens, Monetary Authority of Singapore Chairman Minister Tharman Shanmugaratnam, Credit Suisse Group AG Chief Executive Officer Tidjane Thiam and Mohamed El-Erian, the former chief executive of Pacific Investment Management Co. and a Bloomberg Opinion columnist.


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