Canada's Liberal Party Leadership Race: Top Contenders Emerge

The Canadian Liberal Party is in the process of choosing a new leader following Prime Minister Justin Trudeau's announcement of his resignation. Notable candidates include former finance minister Chrystia Freeland and former Bank of Canada governor Mark Carney, vying to guide the party into the future.

The Canadian Liberal Party is on the brink of selecting a new leader as Prime Minister Justin Trudeau has announced his intention to step down on January 6. This leadership contest will culminate on March 9. Former Finance Minister Chrystia Freeland and Former Bank of Canada governor Mark Carney have stepped into the fray, marking themselves as top contenders for the party's leadership.

Chrystia Freeland, 56, a significant ally of Trudeau, resigned unexpectedly in December. Her departure followed a heated dispute regarding spending, resulting in a public critique of the Prime Minister's leadership direction. Freeland, formerly Finance and Foreign Minister, has been pivotal in shaping Canada's COVID-19 pandemic economic response and trade relations with the United States and Mexico.

Mark Carney, 59, a potential candidate not previously part of Trudeau's administration, declared his candidacy, emphasizing economic revitalization. With a strong background, including tenures as Bank of Canada and Bank of England governor, Carney's leadership bid positions him as an experienced economist ready to tackle Canada's economic challenges ahead.

(With inputs from agencies.)