Sri Lanka President Gotabaya Rajapaksa and entire cabinet to resign to make way for a unity govt

Colombo: Sri Lanka’s President Gotabaya Rajapaksa and the cabinet will make way for a unity government, the prime minister’s office said on Monday after tens of thousands stormed the official residences of both men, enraged by the island’s worst economic crisis in decades.

Sri Lankan President today conveyed to Prime Minister Ranil Wickremesinghe that he will resign on Wednesday. A statement from the Prime Minister’s office said that President Rajapaksa has officially informed that he will be resigning as previously announced. On Saturday, President Rajapaksa informed Speaker Mahinda Yapa Abeywardena from an undisclosed location that he will step down on Wednesday.

Earlier, Prime Minister Wickremesinghe also announced that he was willing to resign and make way for an all-party government to take over. Prime Minister’s office said that protesters breached Wickremesinghe’s private residence and set it on fire.

Yesterday, opposition parties in the island nation held talks and decided to form an all-party interim government after President Rajapaksa and Prime Minister Wickremesinghe agreed to resign.

The cash-starved Sri Lanka witnessed a tumultuous day on Saturday when protesters broke into Mr. Rajapaksa’s official residence in Colombo. The protesters were seen in the bedrooms and splashing around in the swimming pool of the President’s House.

Economic expert Punit Mudgal analysis the cause of the unprecedented economic crisis which engulfed the island nation.