Bank of England (BoE) governor Mark Carney failed to make the short-list of candidates hoping to be appointed as the next head of the International Monetary Fund (IMF).

France is leading the negotiations to find a European Union (EU) candidate, which has been narrowed down to five, Reuters reported.

Included are; Bulgarian World Bank chief executive Kristalina Georgieva, Finnish central bank governor Olli Rehn, Dutch former head of Eurozone finance minister Jeroen Dijsselbloem, Spanish economy minister Nadia Calvino and Portuguese Eurozone finance ministers chairman Mario Centeno.

Despite being widely thought to make the short-list, Carney, whose time as BoE governor ends in January, did not make the cut, the Guardian said.

Previously, former UK Chancellor and current Evening Standard Editor George Osborne was favoured by many UK betting companies following reports he was eyeing the position.

However, the Guardian reported that a European diplomat said Osborne had never been considered.

The top job at the fund has been made available after Christine Lagarde, who held the position from 2011, was appointed as the new leader of the European Central Bank (ECB).

Historically, the head of the IMF has been a European, a norm EU leaders are keen to maintain. It had been rumoured that the UK’s departure from the bloc weakened Carney’s candidacy for the role, despite the BoE governor holding both Irish and British passports.

The hunt for the next head officially launched on Friday, with the IMF stating the next boss “will be a national of any of the fund’s members”, which leaves the possibility of a non-European candidate taking the role open.

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