George Osborne’s ambitions to run IMF

George Osborne is considering putting his name forward to replace Christine Lagarde as the head of the International Monetary Fund, according to reports, a move that would see him become the first Briton to lead the Washington-based body.

The former chancellor – and current Evening Standard editor – has told allies he would be well suited to succeed Lagarde, the Financial Times reported, after she was picked to lead the European Central Bank this week.

Three years ago, Osborne  was unceremoniously sacked as chancellor in the aftermath of the Brexit vote, facing a barrage of criticism over a botched campaign to have the UK remain in the EU.

It would also mark the first time in the 75-year history of the IMF that a Briton has led the global body, which acts as the lender of last resort to nations in financial distress.

Other contenders may include Mark Carney, the Bank of England governor, who holds Irish and UK citizenship. Carney is due to leave the Bank of England early next year.

Osborne may also hope for support from Boris Johnson, after throwing the weight of the Standard behind the former foreign secretary’s campaign for prime minister.

Via The Guardian/The Financial Times