Sunday, June 22, 2025

Who is Mark Carney, ex-central banker replacing Justin Trudeau as Canada PM

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Former central banker Mark Carney has been announced as the next Liberal Party leader and the 24th Prime Minister of Canada, succeeding Justin Trudeau. (Image Reuters)

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The former Bank of Canada chief won the Liberal leadership race by a landslide of 131,674 votes, accounting for 85.9% of the ballots. His daughter, Cleo Carney, introduced him on stage before his address at the Liberal Party convention. (Image Reuters)

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Who is Mark Carney? Born on March 16, 1965, in Fort Smith, Northwest Territories, Mark Carney was raised in Edmonton, Alberta. (Image Reuters)

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The former Goldman Sachs executive has a bachelor’s degree in economics from Harvard University (1988) and master’s and doctoral degrees in economics from Oxford University. Like many Canadians, the next Liberal Party leader played ice hockey and served as Harvard’s backup goalie. (Image Reuters)

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The 59-year-old possessed citizenship in Canada, the United Kingdom and Ireland. He decided to only pick Canadian citizenship and forego others, even though it was not necessary by law. (Image Reuters)

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Carney’s career spans various roles, including running the Bank of Canada from 2008 to 2013 and the Bank of England from 2013 to 2020. He became the first non-British person to lead the central bank since its foundation in 1694. He also served as the chair of the Financial Stability Board from 2011 to 2018. (Image Reuters)

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Interestingly, he has no prior experience in politics. He worked for 13 years in London, Tokyo, New York and Toronto before becoming deputy governor of the Bank of Canada in 2003. Carney also served as the United Nations’ special envoy for climate action and finance in 2020. (Image Reuters)

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He rose to prominence after helping Canada circumvent one of its most catastrophic outcomes during the 2008 financial crisis. Carney is married to British-born Diana Fox, with whom he has four daughters. (Image Reuters)

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Canada’s next prime minister has helped run two Group of Seven economies in crisis before and now will try to steer Canada through a looming trade war brought by US President Donald Trump, a threat of annexation and an expected federal election. Carney said the US President is trying to weaken the Canadian economy by imposing ‘unjustified tariffs’, while vowing that he will not be allowed to succeed. (Image Reuters)

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Carney’s chances of remaining Prime Minister seem to improve, with the latest poll showing the Liberals at 34% and the Conservatives at 37%. (Image Reuters)

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