Chrystia Freeland becomes Canada’s first Female Finance Minister, amidst Morneau’s resignation

Trudeau appoints Freeland as Morneau resigns to seek leadership of OECD

Finance Minister Morneau resigns to seek the leadership of the Organisation for Economic Co-operation and Development (OECD). The OECD is an intergovernmental economic organisation with 37 member countries, founded in 1961 to stimulate economic progress

The (OEEC) was formed in 1948 to administer American and Canadian aid in the framework of the Marshall Plan for the reconstruction of Europe after World War II. It started its operations on 16 April 1948, and originated from the work done by the Committee of European Economic Co-operation in 1947 in preparation for the Marshall Plan. Since 1949, it has been headquartered in the Château de la Muette in Paris, France. After the Marshall Plan ended, the OEEC focused on economic issues. Wiki

“I met with the prime minister today to inform him that I did not plan to run again in the next federal election,” Morneau told reporters Monday evening. “It has never been my plan to run for more than two federal election cycles.

“Since I’m not running again, and since I expect that we will have a long and challenging recovery, I think it’s important that the prime minister has by his side a finance minister who has that longer term vision,” Morneau said. “That’s what led me to conclude during this time period that it’s appropriate for me to step down.” Said Minister Morneau

“I want to thank Bill for everything he has done to improve the quality of life of Canadians and make our country a better and fairer place to live. I have counted on his leadership, advice, and close friendship over the years and I look forward to that continuing well into the future.

“Canada will vigorously support his bid to lead this important global institution that will play a critical role in the global economic recovery.” said Prime Minister Justin Trudeau

Deputy Prime Minister Chrystia Freeland who also serves as the country’s intergovernmental affairs Minister, will replace Morneau as Minister of Finance. Freeland will now become Canada’s first ever woman appointed as the Finance Minister.

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