Varadkar downplays prospect of Donohoe quitting government for IMF role

Taoiseach Leo Varadkar with Minister for Public Expenditure Paschal Donohoe (Brian Lawless/PA)

The Taoiseach has downplayed the possibility of Paschal Donohoe leaving government to head the International Monetary Fund (IMF).

Leo Varadkar said he anticipated that current IMF managing director Kristalina Georgieva would seek another term, so the issue of the public expenditure minister replacing her may not arise.

Mr Donohoe is president of the Eurogroup of finance ministers and recent speculation has linked him with the IMF role, as Ms Georgieva’s first term draws to an end next year.

At his end-of-2023 media briefing, Mr Varadkar was asked what Mr Donohoe moving to the IMF would mean for his cabinet, and Fine Gael in the minister’s Dublin Central constituency.

My anticipation is that Kristalina Georgieva will seek a second term, in which case that issue will not arise

“Well, he’d have to be nominated by the Irish Government first, obviously, and the European Union as the case may be and, as you know, there is no vacancy at the top of the IMF and, if a vacancy arises, I’m sure we can talk about it then,” he said.

“But my anticipation is that Kristalina Georgieva will seek a second term, in which case that issue will not arise.”

Mr Donohoe has been guarded when questioned about it in recent weeks.

He has declined to rule out a tilt at the job and has said his focus is on his current political roles and fighting the next general election.

Speaking to reporters at an event in Dublin city earlier this month, he said: “I’ve been very clear that my interest is in continuing my work in Irish and European politics.

“I’m very privileged to be a member of this government and a TD for Dublin Central and I’ve been re-elected to a second term as president of the Eurogroup, that’s where my focus is.”

Asked if he was completely ruling out taking the job, Mr Donohoe said: “There’s no vacancy for that role and I’ve made clear where my focus is.”