Sri Lanka Parliament to elect new President on July 20

Colombo: The Sri Lankan Parliament will elect the new President to succeed Gotabaya Rajapaksa on July 20, Speaker Mahinda Yapa Abeywardena announced on Monday. The decision was taken during a crucial all-party leaders' meeting held earlier in the day.

Leaders of the protest movement in Sri Lanka who have forced the President and Prime Minister out of their official residences said they will occupy the buildings until the two quit office. Sri Lanka's entire Cabinet of Ministers on Monday agreed to resign once an agreement is reached on the formation of an all-party interim government, Prime Minister Ranil Wickremesinghe's office said after the President and premier offered to resign.

Meanwhile, the Governor of the Central Bank of the country said that negotiations are on with India over a $1 billion swap. When asked if he would resign, the Governor added that he has a responsibility since he took on the six-year term and he would be completing that.

Early in the day, Sri Lanka's President Gotabaya Rajapaksa informed Prime Minister Ranil Wickremesinghe that he will resign, as previously announced, the Prime Minister's Office said. Wickremesinghe, too, announced that he would resign as soon as a new government is formed.

Meanwhile, protesters continued to occupy the official residence of Lankan President, as they raised demands of him and PM Ranil Wickremesinghe stepping down immediately.