HAMILTON, Canada

Former Canadian Finance Minister Chyristia Freeland announced Friday that she is entering the race to replace Prime Minister Justin Trudeau as leader of the Liberal Party.

"I'm running to fight for Canada," Freeland said in a single-sentence statement shared on her X account.

If she wins, Freeland could become the first woman leader of the Liberal Party Canada, and will run as the prime minister in the federal election later this year.

On Thursday, former Bank of Canada and Bank of England governor Mark Carney declared his nomination to claim the leadership of the Liberal Party.

Freeland will be running against Carney.

Previously, Freeland announced her resignation from the Cabinet, describing it as the "only honest and viable path."

"It has been the honor of my life to serve in government, working for Canada and Canadians. We have accomplished a lot together. On Friday, you told me you no longer want me to serve as your finance minister and offered me another position in the Cabinet," Freeland said in a letter addressed to Trudeau.

She shared the letter on her X account, saying: "Upon reflection, I have concluded that the only honest and viable path is for me to resign from the Cabinet."

Trudeau then announced his resignation after growing demands to step down following Freeland's resignation.