The British Minister of Finance, Kwasi Kwarteng, was dismissed in the context of an economic and political crisis that also threatens the continuity of the Conservative Prime Minister Liz Truss, just over a month after his appointment.
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Kwarteng is a 47-year-old ultra-liberal economist born in London to immigrant parents from Ghana and confirmed that Truss had urged him to step down.
“He has asked me to step aside as his finance minister. I have accepted,” he wrote in a letter to the prime minister, which he made public on digital internet platforms.
Kwarteng, had assured only on Thursday that “he was not going anywhere” despite the turmoil caused in the financial markets by the government’s economic plans, which had already knocked down the pound sterling a few days ago.
In a very unstable market, the British pound tumbled against the dollar after these reports.
Political instability weighed on the British currency, which lost 1.10 percent against the dollar and 0.57 percent against the euro, a day after soaring on speculation about possible changes in British fiscal policy.
Kwarteng surprised with his resignation as he was in Washington to attend the annual meetings of the International Monetary Fund (IMF) and the World Bank, but on Friday morning it was learned that he was returning to London a day earlier than planned.
The Conservative Prime Minister plans to address the nation this Friday in a context in which some members of her own party are already trying to remove her, given the polls that predict a defeat for the Conservatives in upcoming legislative elections.
Former British Foreign Secretary Jeremy Hunt has been appointed Chancellor of the Exchequer, Prime Minister Liz Truss’s office announced, following Kwasi Kwarteng’s resignation after less than six weeks in office.
Disclaimer: Via Telesur – Translated by RJ983
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