Sri Lankan president resigns, Parliament to convene

Sri Lanka's Parliament speaker says President Gotabaya Rajapaksa has resigned effective Thursday

Sri Lanka’s Parliament speaker says President Gotabaya Rajapaksa has resigned effective Thursday.

Speaker Mahinda Yapa Abeyweardana said Friday that the Parliament will convene Saturday to start the process of electing a new president. He expects to compete the process within seven days.

Rajapaksa fled the country Wednesday amid mounting protests for him to resign over an economic crisis.

Protesters who had occupied government buildings retreated Thursday, restoring a tenuous calm.

The protesters accuse Rajapaksa and his powerful political family of siphoning money from government coffers for years and his administration of hastening the country’s collapse by mismanaging the economy. The family has denied the corruption allegations, but Rajapaksa acknowledged that some of his policies contributed to the meltdown.

Months of protests reached a frenzied peak over the weekend when demonstrators stormed the president’s home and office and the official residence of Prime Minister Ranil Wickremesinghe. On Wednesday, they seized Wickremesinghe's office.

The demonstrators initially vowed to hold those places until a new government was in place, but the movement shifted tactics Thursday, apparently concerned that any escalation in violence could undermine their message following clashes the previous night outside the Parliament that left dozens injured.

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