Mark Joseph Carney Takes Oath as 24th Prime Minister of Canada.
Appointment
In March 2025, Mark Joseph Carney was appointed as the 24th Prime Minister of Canada, succeeding Justin Trudeau after his nine-year tenure. He won the Liberal Party leadership with 85.9% of the vote and became the first Canadian PM to assume office without holding prior elected political positions.
- The swearing-in ceremony took place at Rideau Hall in Ottawa, Canada. His cabinet was downsized to 24 members from the 37 under Trudeau's administration, with key appointments including François-Philippe Champagne as Finance Minister, Mélanie Joly as Foreign Minister, and Chrystia Freeland as Transport Minister.
- Carney is an economist and former central banker, having served as Governor of the Bank of Canada (2008-2013) and Bank of England (2013-2020). He played a crucial role in managing the global financial crisis and Brexit’s economic impact.
- His early career included a 13-year tenure at Goldman Sachs, where he held senior positions across multiple international offices. He was also involved in South Africa’s reentry into global bond markets and the 1998 Russian financial crisis resolution.
Main Point :- (i) From 2011 to 2018, Mark Joseph Carney served as the Chair of the Financial Stability Board (FSB), overseeing global financial regulations. Between 2020 and 2025, he acted as the United Nations (UN) Special Envoy for Climate Action & Finance and co-chaired the Glasgow Financial Alliance for Net Zero (GFANZ).
(ii) Mark Joseph Carney received several prestigious honors, including the Officer of the Order of Canada (2014) for his contributions to financial policy, the Queen Elizabeth II Diamond Jubilee Medal (2012) for public service, and Euromoney’s Central Bank Governor of the Year (2012).
(iii) His leadership as a central banker and policymaker has been widely recognized for shaping global financial stability and climate finance, making his transition to political leadership a historic milestone for Canada.
About Canada
Head of State : King Charles III (represented by Governor General)
Prime Minister (PM) : Mark Carney
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