NATO Secretary-General Jens Stoltenberg (Jens Stoltenberg) said on Tuesday (December 14) that he had applied to become the next governor of the central bank of Norway. question.
Both Stoltenberg and his main competitor, Norges Bank Deputy Governor Ida Wolden Bache, stated that the government encourages them to apply.
“The Ministry of Finance contacted me in November and asked if I would consider applying for this position. I have done it now, and this is a very motivated job for me,” Stoltenberg told news agency NTB.
He said that although the work began on March 1, Stoltenberg must first complete his term in NATO, which will last until the end of September 2022.
Stoltenberg is a trained economist and former leader of the Labour Party. He served as Prime Minister of Norway in 2000-01 and 2005-13, and became NATO chairman the following year. He also served as Minister of Finance.
Stoltenberg’s political party currently rules Norway in conjunction with the Agricultural Center Party.
Some opposition politicians question the suitability of Stoltenberg as the governor of the central bank, as this may question the bank’s independence.
“We have no tradition of letting politicians hold this position,” Sveinung Rotevatn, deputy leader of the opposition Liberal Party, told public broadcaster NRK.
“It is very important that everyone believes that the central bank is independent of daily political operations in everything from interest rate setting to wealth fund investment.”
Stoltenberg is a friend of Prime Minister Jonas Gahr Stoere (Jonas Gahr Stoere), and he stated that given their friendship, he would not participate in the selection process.
The Finance Minister Trigf Slugswold Widum from the Centre Party served as Minister of Agriculture in the last cabinet of Stoltenberg.
Kjersti Haugland, chief economist at DNB Markets, told Reuters: “There has been controversy over whether Stoltenberg’s political background is not suitable for this job.”
“The fact that Stoltenberg was asked to apply is a strong signal that the Ministry of Finance does not agree with these concerns.”
ThisThe only female applicant
The successful candidate will be responsible for setting interest rates and overseeing Norway’s powerful sovereign wealth fund, which is the largest in the world with assets of US$1.4 trillion.
First Lieutenant Governor Walden Bach, regarded by many economists as a major competitor, said that she had applied for it “after dialogue with the Ministry of Finance.”
She said in a statement: “As the lieutenant governor, I have a good understanding of the meaning of this position, and I am full of motivation for this job.”
She holds a doctorate in economics and served as executive director of monetary policy for four years and director of financial stability for one year.
If appointed, she will become the first female manager of Norwegian Bank since its establishment more than two centuries ago.
According to Haugland of DNB Markets, Wolden Bache is “known for his strong leadership and analytical skills, including the ability to apply these skills to practical policy issues.”
Haugland said that Stoltenberg has a master’s degree in economics and he has been dealing with economic policy from the top down before serving as prime minister and finance minister.
“He also has leadership experience, whether through his political position in Norway or in recent years in NATO,” she said.
“The two candidates are very different.”
The current governor, Oeystein Olsen, who will turn 70 in January, announced this year that he will retire at the end of February, 10 months before his second six-year term expires.
Most Norwegian public officials retire before the age of 70.
The appointment of the new governor will take place early next year.
