Mark Carney, former governor of the Bank of Canada and the Bank of England has been elected the new leader of Canada’s ruling Liberal Party. With this, he is going to become the next Prime Minister of Canada and will replace Justin Trudeau, who resigned from the post earlier this year. 59-year-old Carney secured 86 per cent of the members’ votes. Trudeau’s ruling party chose Mark Carney as the new leader and the next Prime Minister of the country.

As Prime Minister, Justin Trudeau brought relations with India to a low level and thus in such a situation, there are a lot of expectations from new PM Carney. As Trudeau’s successor Carney will now have to face the challenge of improving the spoiled relations with India and he has indicated this when he recently said that if he becomes the Prime Minister, he will work to diversify Canada’s trade relations with like-minded countries. He said, ‘What Canada would like to do is diversify our trade relations with like-minded countries, and there are opportunities to rebuild relations with India.”

Mark Carney was elected Governor of the Bank of Canada in 2008. After pulling Canada out of recession, the Bank of England offered Carney the position of Governor in 2013. Carney remained associated with it until 2020. The decisions taken during Brexit made Carney famous in Britain. He an experienced economist and banking expert is respected globally for his economic policies and international financial understanding and thus his role can be important in increasing trade relations between India and Canada.

Being an economic expert he could........

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