Former Bank of Canada governor Mark Carney announced on Thursday (January 16) that he was running to replace Prime Minister Justin Trudeau as leader of the ruling Liberal Party, saying he wanted to focus on the struggling economy.

Former central banker Mark Carney kicked off his bid to replace Justin Trudeau as the head of Canada’s Liberal Party and the country’s prime minister, saying he has the experience to manage a crisis and to deal with Donald Trump’s protectionism.

Former Bank of Canada governor Mark Carney launched his campaign to become Liberal leader and Canada's next prime minister on Thursday. Carney, who has long been tied to Trudeau, criticized the current government's handling of the economy and promised to do better.