Finance General News

Finance Minister of France reveals that he will not be attending the IMF gathering

Earlier today, October 10th, it was revealed that The French minister of finance has canceled his trip to the IMF gathering in Bali this week, as his presence is duly required in Paris ahead of a crucial government reshuffle. According to people familiar with the matter, Bruno Le Maire would not be traveling to Indonesia.

As per reports, at the meetings with Steven Mnuchin, the US Treasury secretary, European finance ministers are all set to try and convince the Trump administration to drop the plan of cutting off Iran’s access to Swift, the global financial messaging service.

The meeting is expected to be attended by Senior French officials, including the governor of the Banque de France, who will try and put forward France’s interests.

The need for a government reshuffle aroused due to the sudden resignation issued by Gérard Collomb, who stepped down as the interior minister earlier in the previous week.

Mr. Collomb became the third minister of Emmanuel Macron to announce his resignation in recent weeks, which further added to the pressure on the President of France.

As per reports, it was expected that the appointment of a replacement would be announced before Mr. Le Maire departed for Bali and before a meeting of the French cabinet that is due for today (10th October), however due to the given circumstances the meeting had to be postponed to the end of this week, when Mr. Macron returns from a trip to Armenia.