Paschal Donohoe: From Irish Finance Minister to World Bank Leader

Paschal Donohoe resigned from his positions as Irish finance minister and Eurogroup president to join the World Bank. His departure prompts changes in the coalition government, transferring Simon Harris to the finance ministry. Donohoe's tenure was marked by fiscal prudence and strengthening Ireland's public finances.

Paschal Donohoe has stepped down from his role as Irish finance minister and Eurogroup president to assume a senior position at the World Bank. This unexpected departure has led Simon Harris, his party leader, to transition from foreign affairs to finance.

Donohoe, a significant figure in the coalition government, guided Ireland's financial health for nearly a decade. He was known for his careful fiscal management, avoiding calls for excessive tax cuts, and maintaining a stable economic environment.

Simon Harris, poised to return as prime minister in 2027, takes over the finance ministry amid shifting political dynamics. Donohoe's reputation for prudence continues to influence economic planning, as he transitions to a global role at the World Bank.

(With inputs from agencies.)