Sri Lankan parties agree to form all-party interim government after Gotabaya Rajapaksa's resignation

The Rajapaksa brothers, once hailed as heroes for winning the civil war against the LTTE, are now blamed for the country's worst economic crisis

Sri Lanka's main Opposition parties on Sunday agreed to form an all-party interim government after the anticipated resignation of President Gotabaya Rajapaksa on Wednesday, following unprecedented political turmoil that forced him and Prime Minister Ranil Wickremesinghe to offer their resignations over the mishandling of the nation's crippling economic crisis.

Opposition parties held talks to seek ways to steer the country forward in the current unprecedented economic crisis after Rajapaksa's resignation.

“We agreed in principle to form a government of unity with all parties participation for an interim period," Wimal Weerawansa of the ruling Sri Lanka Podujana Peramuna party's breakaway group said.

“This will be a government where all parties are represented," he said.

Vasudeva Nanayakkara, another leader of the SLPP breakaway group said they need not wait for Rajapaksa's resignation on July 13.

Read | Sri Lanka protesters won't budge till president Gotabaya Rajapaksa leaves office

President Rajapaksa informed Parliament Speaker Mahinda Yapa Abeywardena on Saturday that he will resign on Wednesday after the country's opposition parties demanded his resignation. Prime Minister Ranil Wickremesinghe has also offered to resign.

The main Opposition Samagi Jana Balawegaya party said they held extensive internal discussions.

“We aim for an interim government of all parties for a limited period and then go for a parliamentary election," Ranjith Madduma Bandara, the SJB general secretary said.

The leaders of political parties represented in Parliament are to meet on Monday afternoon to discuss the convening of the House for the transition of power for a new government after Rajapaksa said he will resign.

Speaker Abeywardena conveyed to Rajapaksa on Saturday that Opposition party leaders want him to resign after anti-government protesters stormed his offices and the official residence.

Under the Constitution, the incumbent prime minister would automatically get appointed as the acting president for a short time until Parliament votes and appoint a successor to the president.

The protesters are also demanding the resignation of prime minister Wickremesinghe. The resignation of both the president and prime minister would mean that Speaker Abeywardena would become the acting president.

Wickremesinghe has expressed willingness to resign when a new government is formed.

He stressed on Saturday that to deal with the International Monetary Fund on an assistance programme and to deal with shortages of essentials including food and fuel, it was important not to leave a vacuum.

In a statement Saturday night, Wickremesinghe said “this country is gripped with fuel and food shortages. There will be an important visit scheduled by the World Food Programme next week while crucial talks have to be continued with the IMF. So if the current government is to quit it must be replaced by the next ."

Meanwhile, the protesters who have occupied the key administration buildings since Saturday's mass protests said they would not leave until Rajapaksa resigns.

Sri Lankans were seen roaming through the ransacked presidential palace on Sunday. There were no reports of violence unlike on Saturday.

The cash-starved island nation witnessed a tumultuous day on Saturday when protesters broke into 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.

Protesters did not spare Prime Minister Wickremesinghe despite his offer to resign and set on fire his private residence in an affluent neighbourhood in the capital.

The Speaker would become the acting President in the absence of both the President and the Prime Minister. Later, an election among MPs must happen to elect a new President.

Meanwhile, five Sri Lankan Cabinet ministers have announced their resignation after the massive anti-government protest.

The Chief of Defence Staff General Shavendra Silva on Sunday called on all Sri Lankans to support the armed forces and the police to maintain peace in the country.

In May, President Gotabaya Rajapaksa's elder brother and Prime Minister Mahinda Rajapaksa had to quit in the face of massive anti-government protests.

The Rajapaksa brothers, Mahinda and Gotabaya, were hailed by many in Sri Lanka as heroes for winning the civil war against the LTTE but they are now blamed for the country's worst economic crisis.

The expected exit of President Rajapaksa on Wednesday and the resignation of Mahinda Rajapaksa as Prime Minister in May is a dramatic fall from grace for a powerful family that has dominated Sri Lankan politics for more than a decade.

Sri Lanka, a country of 22 million people, is under the grip of an unprecedented economic turmoil, the worst in seven decades, crippled by an acute shortage of foreign exchange that has left it struggling to pay for essential imports of fuel, and other essentials.

The country, with an acute foreign currency crisis that resulted in foreign debt default, had announced in April that it is suspending nearly $7 billion foreign debt repayment due for this year out of about $25 billion due through 2026. Sri Lanka's total foreign debt stands at $51 billion.