Norway appoints former PM to head central bank

AFP - [email protected]
Norway appoints former PM to head central bank
(FILES) In this file photo taken on January 18, 2022 NATO Secretary General Jens Stoltenberg speaks during a press conference with German Chancellor after their talks at the Chancellery in Berlin, on January 18, 2022. - NATO chief Jens Stoltenberg has been appointed the new governor of Norway's central bank, the Norwegian government announced on February 4, 2022, providing no date for the start of his new job. (Photo by HANNIBAL HANSCHKE / POOL / AFP)

NATO chief and former Prime Minister Jens Stoltenberg will take over as head of Norway's central bank "around December 1", officials said Friday, in an appointment that comes amid rising tensions between the West and Russia.


A former prime minister and finance minister in his native Norway, Stoltenberg beat out the central bank's deputy governor, Ida Wolden Bache, for the job.

His appointment comes as Western nations fear Russia has plans to invade Ukraine, which aspires to join the NATO alliance.

The 62-year-old trained economist had previously stipulated that he would only be able to take on the new role after his term as NATO secretary general ends in October.

The finance ministry said Friday he would start at the central bank "around December 1".


The selection process has made headlines in Norway, where commentators and politicians have raised concerns about political nepotism, due to the newly-appointed governor's longstanding ties to the ruling Labour Party. In December, Stoltenberg said he had submitted his candidacy for the job after having been contacted by the finance ministry.

"The finance ministry contacted me in November to see if I'd apply for the job. I did it, it's a position that motivates me hugely," he told AFP via his press office at the time.

"I made it clear to the finance ministry that if I get the job, I wouldn't be able to start work until the end of my NATO mandate on October 1,"
Stoltenberg said.

The current governor of the bank, Oystein Olsen, is to retire this month at the age of 70. Wolden Bache will serve as interim head, the government said.


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Leslie.Eriksson 2022/02/06 10:16
Shouldn't be a politician at all. He has ----all qualifications!!!!!

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