Who is Kwasi Kwarteng? Why was he sacked by UK PM Liz Truss

British Prime Minister Liz Truss fired her finance minister Kwasi Kwarteng on Friday and scrapped parts of their economic package.

• Kwarteng was forced to rush back to London overnight from IMF meetings in Washington.
• He was fired minutes after arriving back in Downing Street.
• In Washington, Kwarteng was told by the head of the International Monetary Fund of the importance of "policy coherence".
• The sacking is a desperate bid for Truss to stay in power and survive the market and political turmoil gripping the country.
• Kwarteng said in his resignation letter that he was quitting because Truss wanted him to.
• Truss said she was sorry to lose him from the government.
• Kwarteng is the country's shortest serving chancellor since 1970.
• Truss has appointed Jeremy Hunt, a former foreign and health secretary, to replace Kwarteng.
• Hunt will be the fourth finance minister in as many months in Britain.
• Truss came to power last month by promising vast tax cuts and deregulation to try to shock the economy out of years of stagnant growth.
• The fiscal policy Kwarteng announced on September 23 aimed to deliver that vision.
• But the response from markets was very ferocious. Borrowing and mortgage costs surged.

Truss now runs the risk of bringing the government down if she cannot find a package of public spending cuts and tax rises that can appease investors