Stoltenberg scheduled to leave NATO to lead Norway’s Bank

The North Atlantic Treaty Organization’s (NATO) Secretary General, Jens Stoltenberg, who has been in the power seat since 2004 is set to vacate his job this year in the month of September. He also served as the Prime Minister of Norway from 2000-01 and 2005-13.

On Friday, the Norwegian government announced that NATO’s now chief, Jens Stoltenberg is set to leave his job and will be appointed as the new governor of the Norway’s central bank.

“I am grateful for the trust and am looking forward to taking on the job,” Stoltenberg stated while talking to an online news conference regarding his new duties starting from December 1st.

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The present governor of the Norges Bank, Oystein Olsen, is scheduled to retire from the position. He became the governor in 2011. The opposition in Norway worries as the former Prime Minister will be given an important position and says that it might weaken Norges Bank’s independence.

Although the seat of the governor will be vacated on March 1st, Stoltenberg assured that he will complete his tenure at NATO until September 30th.

According to the reports, Stoltenberg  will supervise setting interest rates and look after financial integrity as well as handling Norway’s sovereign wealth fund, the world’s largest fund worth $1.4 trillion.

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Finance Minister, Trygve Slagsvold Vedum expressed his confidence in Stoltenberg in a statement,”I’ve been concerned with identifying the best central bank governor for Norway, and I am convinced that this is Jens Stoltenberg.”

Jens Stoltenberg has also served as the finance minister and energy minister.

According to the Norwegian government, Ida Wolden Bache, the deputy chief of the central bank will serve as the acting governer until Stoltenberg takes over.

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