(Bloomberg) -- Ireland’s Paschal Donohoe gave his support to Simon Harris, who is the frontrunner to become the country’s next prime minister after Leo Varadkar announced his resignation earlier this week.

“I’ve known Simon for many years,” Donohoe, who is president of the Eurogroup and the Irish minister for public expenditure, told Bloomberg Television on Friday. “He has all the qualities that will enable him to be a very successful leader.”

Donohoe said he hopes to continue work in his current portfolio, referring to any potential government reshuffle. Those changes would likely not include Varadkar, who told reporters that he would not seek a ministerial role but rather is looking forward to doing more parliamentary and policy work.

Varadkar set off a leadership race on Wednesday when he unexpectedly announced he would step down after seven years in office. The next election must be held by March 2025, leaving his replacement less than 12 months to turn around Varadkar’s party, Fine Gael’s, dwindling support and tackle housing and immigration challenges.

Donohoe withdrew from the leadership race earlier this week, prompting questions about what lies ahead for a man who has indicated global ambitions before. He previously mulled a bid to become the new head of the International Monetary Fund, Bloomberg reported, so it’s possible his sights could be set beyond Ireland, especially once the general election that must be held by March 2025 is over.

The government coalition led by Donohoe’s party Fine Gael now needs to prove to the electorate it is fit to govern, following the shock resignation of its leader, surprise defeats this month in referendums to change outdated language on women and family, and rising support for opposition party Sinn Fein.

Ireland’s higher education and science minister, Harris, is set to be crowned as the new prime minister in the coming weeks, as other potential rivals such as Donohoe cleared the path for him. With more than a decade of political experience, Harris has risen through the ranks of his party and is seen as a competent minister. He would beat the record of Varadkar, who became Ireland’s youngest-ever prime minister aged 38.

Now is a time “to make space for new people, new ideas, and new energy,” outgoing prime minister Leo Varadkar told reporters in Brussels on Thursday.

--With assistance from Max Ramsay.

©2024 Bloomberg L.P.