Eric Lombard Named France's New Finance Minister Amid Economic Uncertainty

Eric Lombard has been appointed as the finance minister in France's new government led by Francois Bayrou. His leadership will be closely watched as France struggles with political instability and economic challenges, including a significant deficit and a recent credit downgrade by Moody's.

Eric Lombard, previously with the French state bank Caisse des Depots, has taken on the role of finance minister in the latest French administration led by Francois Bayrou. The appointment was confirmed by President Emmanuel Macron's chief of staff on Monday.

The newly appointed finance minister will have to navigate intense scrutiny from financial markets. France is grappling with extensive political unrest and is under increased pressure to address its considerable deficit.

Moody's, a major credit rating agency, recently downgraded France's rating, adding further challenges in the wake of Bayrou's installment as France's fourth prime minister this year.

(With inputs from agencies.)