Sri Lankan President Gotabaya Rajapaksa has announced he will resign after protesters stormed his official residence and set the prime minister's house on fire. Neither the prime minister nor the president were in the buildings.
Thousands of people descended on the capital Colombo, calling on Rajapaksa to resign after months of protests over his mismanagement of the economic crisis. Rajapaksa will resign on July 13. Even Prime Minister Wickremesinghe has agreed to resign.
Parliament Speaker Mahinda Abeywardana said the president decided to step down "to ensure a peaceful handover of power". "Therefore, I ask the public to respect the law and keep calm," he said.
Just hours earlier, Ranil Wickremesinghe's house had been burnt down after protesters broke in and set it on fire. Videos circulating on social media show flames lighting up the night sky.

Mobs had earlier invaded President Rajapaksa's official residence, sprawling across rooms and jumping into his swimming pool. According to what the BBC writes, the country is suffering from rampant inflation and is struggling to import food, fuel and medicine.
A large number of protesters traveled to the capital from all over the country. Rajapaksa left his official residence on Friday as a security precaution, ahead of planned protests.
The BBC says it has been unable to confirm the president's whereabouts. But a source close to the prime minister said that he was in a "safe place". Protesters marched towards the president's residence on Saturday morning, before breaking through barricades. Hundreds of protesters entered the house, chanting slogans and waving the national flag.

Similar scenes could be seen in the Prime Minister's house.
His office later announced that he had agreed to resign to make way for an all-party government. Prime Minister Wickremesinghe said he was willing to resign to ensure the safety of civilians.
But immediately after his announcement, videos of his house on fire started circulating. The Prime Minister lives with his family in a private house. He uses his official residence only for official business.