According to the BBC, Kwasi Alfred Addo Kwarteng, a British Conservative Party official with Ghanaian ancestry who was chosen to serve as the UK’s Minister of Finance, has been fired.
After rumors surfaced that British Prime Minister Liz Truss would announce a U-turn on several aspects of the mini-budget, he was dismissed.
The second-shortest-serving UK chancellor in history is Kwarteng.
Kwarteng abruptly ended a meeting with foreign finance ministers in Washington, DC, and took a flight back to the UK for urgent meetings with Truss this morning.
Kwarteng previously held the position of Secretary of State at the Department of Business, Energy, and Industrial Strategy before being named the Finance Minister.