Sri Lanka's President Gotabaya Rajapaksa plans to step down, the country's parliamentary speaker said on Saturday, bowing to intense pressure after a violent day of protests in which demonstrators stormed the president's official residence and set fire to the prime minister's home in Colombo.
Demonstrators protest inside the President's House premises, after President Gotabaya Rajapaksa fled, amid the country's economic crisis, in Colombo, Sri Lanka, July 9, 2022. REUTERS/Dinuka Liyanawatte
Prime Minister Ranil Wickremesinghe also said he was willing to resign to make way for an all-party government, his office said in a statement on Saturday evening.Details of how a transition of power would take place were also not yet known, although the speaker earlier outlined proposals from a meeting of political parties on Saturday that would include parliament picking an acting president within a week.
Later on Saturday, video footage on local news channels showed a huge fire and smoke coming from Wickremesinghe's private home in an affluent Colombo neighborhood. His office said that protesters had started the fire. Soaring inflation, which reached a record 54.6% in June and is expected to hit 70% in the coming months, has heaped hardship on the population.The decision by the president and prime minister to step aside came after Wickremesinghe held talks with several political party leaders to decide what steps to take following the unrest.
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