Leo Varadkar says no vacancy at IMF for Paschal Donohoe

Public expenditure minister reportedly interested in top job

Taoiseach Leo Varadkar said that the IMF's current head Kristalina Georgieva is yet to indicate whether or not she will seek a second term in the job, so the issue of Paschal Donohoe’s candidacy 'doesn’t actually arise'.

Taoiseach Leo Varadkar has said that there is no vacancy at the top of the International Monetary Fund (IMF) for Public Expenditure Minister Paschal Donohoe to take up, despite reports that Mr Donohoe is interested in the top job.

Mr Varadkar said that he spoke with Mr Donohoe on Saturday about the matter, with the public expenditure minister telling the Taoiseach that he intends to run again in the next general election.

He added that the IMF's current head Kristalina Georgieva is yet to indicate whether or not she will seek a second term in the job, so Mr Donohoe’s candidacy “doesn’t actually arise”.

“This issue doesn’t actually arise at the moment, but what Paschal says to me is that his intention is to run again for the Dáil in Dublin Central and to stay on as president of the Eurogroup,” said Mr Varadkar.

Asked if Mr Donohoe had ruled out an interest, Mr Varadkar reiterated that there is no vacancy at present, but that he could not answer for the minister.

“I suppose I can’t answer for him but, if it arises, that’s the only point at which anything comes into consideration. 

It’s just speculation at this stage.” 

Mr Varadkar said that Mr Donohoe is unaware of where the story is coming from, adding that no campaign is being set up by the minister.

On Friday, there were reports that Mr Donohoe had been holding preliminary conversations about putting his name forward to be the next head of the IMF. 

It is expected that Mr Donohoe would be a strong candidate for the role, considering his position as Eurogroup president and his close relationship with US Treasury secretary Janet Yellen.

Ms Georgieva’s term as IMF managing director is due to end next September, but the selection of a new head can begin months in advance.

A spokesperson for Mr Donohoe has not denied he is interested in the role, but said that he is “fully focused on his current work and responsibilities in Ireland and in the Eurogroup and committed to serving his full mandate. He will also be a candidate in the next election in Ireland”.

Other potential candidates for the IMF managing director role include Spanish economy minister Nadia Calvino.