United Kingdom Prime Minister, Liz Truss has resigned from her position.
Truss made the announcement known on Thursday. Her resignation as the Conservative Party leader is coming barely six weeks after coming into office.
Truss, who was the former Secretary of State for Foreign, Commonwealth and Development Affairs, said she would stay on until a successor is chosen in the next week.
She said: “I recognise that given the situation I cannot deliver the mandate on which I was elected by the Conservative Party. I have therefore spoken to His Majesty the King to notify him that I am resigning as leader of the Conservative Party.
“A leadership election for MPs to select her successor will be “completed within the next week.”
Recall that Truss had said on Wednesday that she would continue in office and not quit her role, saying that she is a fighter and not a quitter.
Truss succeeded Boris Johnson who resigned from his appointment in July over a series of scandals. She was UK’s third female PM after Margaret Thatcher and Theresa May.
This development came days after Truss fired Kwasi Kwarteng as Chancellor of the Exchequer barely five weeks into office.
According to various media reports, Truss fired the Finance Minister in person after rushing back from international talks in Washington.
The announcement comes amidst the United Kingdom‘s struggle in dealing with the fallout from Kwarteng’s mini-budget, which Truss supported and caused financial turmoil, including a sharp jump in interest rates.
Already, the country is coping with skyrocketing energy expenses as well as a cost-of-living crisis that affects both individuals and businesses.
