Sri Lankan President to resign after protesters storm residence

Sri Lankan President Gotabaya Rajapaksa has announced he will step down after protesters stormed his official residence and set the Prime Minister's house on fire.

BBC reports neither the Prime Minister nor the President were in the buildings.

Hundreds of thousands descended on the capital, Colombo, calling for Rajapaksa to resign after months of protests over economic mismanagement.

Rajapaksa will step down this Wednesday while the Prime Minister, Ranil Wickremesinghe has agreed to resign.

Parliamentary speaker Mahinda Abeywardana says the President decided to step down to ensure a peaceful handover of power.

BBC