If appointed, Osborne would be the first Briton to lead the IMF in the institution’s 75-year history. Photograph: Anthony Harvey/Rex/Shutterstock

Former chancellor, George Osborne ‘aimingof taking IMF vacancy

Aminy Andawi
Politics & Economic
International
Jul 05, 2019
2383
Christine Legarde who is about to be the next ECB’s president is about to be replaced by George Osborne, the former chancellor, as the head of International Monetary Fund. Osborne was a former chancellor and the Current Evening Standard editor in the IMF. Furthermore, he would be the first Briton to lead the institution in 75-year history.

This would mark the first time in more than 75-year history of the IMF to be led by a Briton, which act as the last lender to nations’ financial distress. Moreover, Osborne is finally return to a major public role after facing criticism over a campaign to keep the UK in the EU.

To encourage financial stability, international trade and sustainable economic growth, it is said in an unwritten rules that a European has always held the top job while American led the World Bank. Osborne will face other highly qualified candidates such as the Bank of England governor, Mark Carney. Carney is Canadian by birth, however, he holds Irish and UK citizenship.

Osborne’s reputation may be harmed by Brexit as he was criticized for doom-laden warnings as well as the imposition of a long period of sterness on Britain, and the Eurozone sovereign debt crisis. However, Osborne’s connection with the two largest world economies, the US and China, his favor may work well. Furthermore, he may also hope for support from Boris Johnson.

Source: https://www.theguardian.com/business/2019/jul/04/george-osborne-aiming-for-new-role-as-head-of-imf

Economic , International