Ottawa, March 9 -- Canada's Liberal Party has elected Mark Carney as its leader, and he is set to replace Justin Trudeau as the Prime Minister of Canda, as reported by CTV News.

Carney secured a win in the first ballot in a race that was triggered after Canada's Prime Minister, Justin Trudeau, announced his intention to step down in early January after a mounting caucus revolt and the resignation of Chrystia Freeland from the cabinet.

After remaining as the frontrunner in the leadership race for the past two months, the former Bank of Canada and Bank of England governor Carney will become Canada's next PM within days, according to CTV News report.

Carney defeated former cabinet minister Karina Gould, former finance minister and deputy ...