Paschal Donohoe's Surprising Shift to the World Bank

Paschal Donohoe is set to resign as Irish finance minister and Eurogroup president to assume a senior role at the World Bank. This surprise move will be announced after the weekly cabinet meeting, marking a significant change in Ireland's finance sector. Donohoe has been pivotal in stabilizing public finances.

Irish Finance Minister Paschal Donohoe is expected to announce his resignation following the weekly cabinet meeting, as he transitions to a senior position at the World Bank. The surprise move was initially reported by local media.

Donohoe, who has been a crucial part of Irish governance for nearly a decade, has steered the nation's public finances to outstanding health. Since assuming the role of finance chief in 2017, his guidance has been instrumental for the country.

Junior Minister Alan Dillon acknowledged the significant development, advising that it now falls to party leaders such as Tanaiste Simon Harris to ensure stability. Donohoe has been offered a prominent role as managing director and chief knowledge officer at the World Bank.

(With inputs from agencies.)