The political parties have decided to form an all-party government and elect a new president on July 20 to prevent the country from falling further into anarchy.

Sri Lanka's cricket icon Sanath Jayasuriya has backed the protests and said, “I am a part of the protest and stand with people’s demand…this protest has been going on for over three months." 

In a televised address to the nation on Monday - May 16, Wickremesinghe has said that his administration plans to privatize Sri Lankan Airlines.

Following his address, Gotabaya had held talks with Wickremesinghe which hinted that the latter would become the new Prime Minister. 

Former President Sirisena said, "He (Mahinda) must be arrested for encouraging violence. There was no reason to attack the peaceful protesters." 

Former Sri Lankan cricketer Kumar Sangakkara had blamed Mahinda for the violence. He said, "The only violence was perpetrated by your supporters."

The Rajapaksa clan was running nearly 80% of the nation's economy directly from its hands and its mishandling has pushed Sri Lanka's economy to a disastrous downfall. 

His resignation has come ahead of the crucial talks that were scheduled with the International Monetary Fund for a loan programme.

Hundreds of thousands of people have been protesting against the island's worst economic downfall with no sight of emancipation, though the government claims to be engaging in salvaging efforts.