Sri Lanka's President to Resign

Sri Lanka's President Gotabaya Rajapaksa will resign from his position on July 13, as reported by the Newswire news portal, citing the country's parliamentary speaker Mahinda Yapa Abeywardena.

According to these sources, Rajapaksa has informed the speaker of his decision. In Sri Lanka, protesters who had previously stormed the Prime Minister's residence have set government buildings on fire. On Saturday, thousands of demonstrators took to the streets of Colombo, demanding the resignation of the current president. They have breached Rajapaksa's residence.

In the backdrop of the protests, Prime Minister Wickremesinghe has agreed to step down. The protests, triggered by a complex financial and economic situation in the country, have been ongoing since early April. According to Wickremesinghe, Sri Lanka is experiencing severe shortages of foreign currency, fuel, petroleum products, fertilizers, and essential food and medicines for certain segments of the population. He estimates that it will take three years or even longer to fully overcome the economic crisis.