Former Bank of England governor Lord King backs Mark Carney to be the next IMF chief
Former Bank of England governor Lord King has backed Mark Carney to be the next head of the International Monetary Fund – and suggested George Osborne is not qualified for the job.
In an apparent snub to the ex-Chancellor, King said that current Bank governor Carney is the only obvious name in the mix with the skills to manage the IMF.
It will be seen as a blow to Osborne – who currently has nine jobs, including editor of the London Evening Standard newspaper – who is believed to want the post.
Backing: Lord King said that current Bank governor Carney is the only obvious name in the mix with the skills to manage the IMF
Carney steps down in January and is seen as a capable candidate to run the Washington-based IMF, which offers emergency support to countries in danger of financial collapse.
However, the Canadian-born 54-year-old could fall foul of a convention that the job goes to a European.
Carney holds Irish and British passports but this may not be enough to secure backing from Europe’s political leaders.
King said: ‘The most qualified candidate is almost certainly Mark Carney but he’s not seen as someone integral to the European Union.
I’m not sure that many other of the European names that have been mentioned so far are qualified to hold such an important economic role.’
The IMF job became vacant after managing director Christine Lagarde stepped down this month to take charge of the European Central Bank.