- Osborne was David Cameron’s chancellor between 2011 and 2016.
- He is widely known for implementing austerity in the UK and cutting funds to public services.
- Since 2017 he has been editor of the London Evening Standard newspaper.
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George Osborne, the former British chancellor, is reportedly considering putting his name forward to replace Christine Lagarde as head of the International Monetary Fund.
The Financial Times reported that he has told allies he would be well suited to take over the Washington-based role, saying the role requires a "skilled political communicator and operator . . . not a technocrat," according to the newspaper.
The move would be unexpected and a dramatic change for Osborne given he only left government two years ago after being sacked as Chancellor of the Exchequer by then Prime Minister Theresa May. Lagarde was nominated on Wednesday to lead the European Central Bank after weeks of discussion with top EU officials.
Osborne would be the first Brit to become the general manager of the IMF, although a European has always held the role, with an American heading up the IMF’s twin — the World Bank.
He will face strong competition from other candidates, especially when Britain’s role in the global economy has declined due to disputes with the EU, and his less than stellar reputation across Europe during the eurozone sovereign debt crisis.
Other contenders may include Mark Carney, the current governor of the Bank of England.
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Source: Business Insider – feedback@businessinsider.com (Yusuf Khan)