3 policemen, 4 prisoners killed in Cairo jailbreak attempt    Hundreds of migrants reach UK in record month of crossings    Former head of Old Cairo district sentenced to 10 years in bribery case    Positive about flying? Airlines look to COVID tests that give results in minutes    Democrats propose sweeping bill to curb presidential abuses    Telling COVID's story: At UN, leaders spin virus storylines    Players union worried about South American qualifiers during COVID-19 crisis    Lukashenko abruptly sworn in, Belarus opposition calls for more protests    Tanker to enter Libya's Hariga port, load 1 million barrels of oil    Juventus sign Atletico Madrid forward Morata on loan    West Ham coach Moyes, two players test positive for COVID-19    Last-minute bids    Digitally able youth    Smarter cities    Wust El Balad band gives a concert at the Fountain theatre    Khan Almaghraby gallery group exhibition is a must go    Don't miss the AUC's webinar with Andrew Crane    A farrago of Brotherhood lies    Egyptian insurance companies' premiums 9.6% up in five months    Egypt's President Sisi names new head of anti-corruption watchdog    Egypt's c.bank offers 18 bln pounds T-bills on Sunday    EgyptAir offering discounts for some international flights    Egypt records 212 new coronavirus cases, 14 deaths on Saturday    Egypt to require PCR coronavirus tests for airport travelers    Egypt sends 125 tonnes of glass by sea to Beirut    Legend Messi officially wants to leave Barcelona, hands transfer request    Global smartphone sales drop 20% in Q2, yet Apple's iPhone sales steady    Sisi: Egypt keen on establishing development projects with Iraq, Jordan    Egyptian megastar Amr Diab releases new hit music video    Making of Harry Potter will be available for fans at new park in Tokyo    Egypt's Senate elections official results to be announced Wednesday    Netflix Egypt is bringing megastar Amr Diab back with a new original    Egypt reopens Rafah border crossing for first time since April    Egypt's senate elections 2020 trending on social media in few days    African Champions League final will be played on Oct. 16-17, CAF says    No room to delay Egyptian Premier League games – EFA's board member    The Facebook Preacher's Search for Fame, and Egypt's Economy    Egypt calls on UNSC to address oil spill risks off Yemen coast    Egypt economically strong in face of COVID-19, reforms ongoing: International Cooperation Minister    Arafa Holding reports $144,000 COVID-19-related losses in April    Egypt's efforts in Libya to activate free will of Libyan people: Al-Sisi    Hyksos campaigns were internal takeover, not foreign invaders: study    COVID-19 affects Egypt sporting clubs    COVID-19 will soon turn to seasonal like swine flu: Presidential Health Advisor    ‘Egypt's Support' coalition convenes to discuss its Senate election list    Robbery attempt leads to discovery of Ptolemaic monuments in Qena    Flouting international guidance, Ethiopia unilaterally starts filling its Nile dam    Zaha speaks out after online racial abuse    

Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.

Bank governor Mark Carney fails to make final cut for IMF job
Published in Amwal Al Ghad on 31 - 07 - 2019

The shortlist of European candidates to lead the International Monetary Fund (IMF) has been reduced to a handful of names, but Mark Carney has not made the final cut.
The Bank of England governor had been cited as a contender to take over from Christine Lagarde, who stands down as the fund's managing director in September to move to the European Central Bank.
Despite being a previous bookies' favourite, Carney is not on a shortlist drawn up by France's finance minister, Bruno Le Maire, who is organising the process of selecting Europe's candidate.
European countries will face a choice from a list that includes Jeroen Dijsselbloem, the former Dutch finance minister; Bulgaria's Kristalina Georgieva, number two at the World Bank; Olli Rehn, the head of Finland's central bank; Portugal's Mario Cénteno, chair of the Eurogroup of finance ministers; and Spain's finance minister, Nadia Calviño.
The French finance ministry on Monday denied reports that Cénteno and Calviño had been cut from the shortlist.
Despite reports that George Osborne was interested in the job, one European diplomat said the former UK chancellor and current editor of the Evening Standard had "never been a candidate".
By longstanding agreement, Europe chooses the head of the IMF while the US picks the leader of the World Bank, although that Bretton Woods-era convention is increasingly questioned by the rest of the world. The IMF wants countries to nominate candidates by early September, with the aim of naming Lagarde's replacement the following month.
The IMF lends to troubled economies and played a crucial role in the eurozone crisis, as part of the so-called troika – of the IMF, European Central Bank and European commission – that oversaw bailouts of Greece, Portugal, Ireland, and Cyprus.
Georgieva, a former European commissioner, is seen as France's choice. The 65-year-old can only succeed if the IMF scraps an age limit that means its managing directors are appointed before their 65th birthday.
Dijsselbloem, an ex-head of the Eurogroup who once said indebted EU countries had wasted money on "drinks and women", would have to overcome doubts in southern Europe about his economic approach.
Rehn, a former European commissioner for the euro, has been Finland's central bank governor since 2018. He is likely to compete with Dijsselbloem for the backing of north European countries.
Cénteno and Calviño complete the list.
Carney is Canadian by birth but has British and Irish passports. However, there is doubt whether that will ever be enough for him to be considered as "European" in this race.
Europe hopes to unite around a candidate at the end of the summer, shortly before Lagarde's official departure on 12 September. The outgoing head of the IMF has already ceased to make speeches and policy pronouncements, since her appointment this month as the first woman to lead the European Central Bank.
The new managing director will be expected to oversee a change in approach by the IMF, which has been criticised in the past for imposing spending cuts on governments facing financial crises. The Fund came in for particularly fierce criticism during the Greek bailout.
However, one of Lagarde's last acts as IMF head was to announce a shift in policy. She said the IMF would now urge countries to protect spending on health, education and vulnerable groups amid growing concern among its members about excessive levels of inequality.
Source: The Guardian weekly

Clic here to read the story from its source.