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Sri Lanka President Plans to Resign as Protests Reignite

  • Thousands storm Rajapaksa residence demanding his exit
  • Bankrupt nation been at virtual standstill amid fuel shortages
Gotabaya Rajapaksa
Gotabaya RajapaksaPhotographer: Andy Buchanan/Pool/Getty Images
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Sri Lankan President Gotabaya Rajapaksa will step down next week, after angry protesters swarmed his official residence and offices. 

Rajapaksa will resign Wednesday to ensure a smooth transition of power, Parliament Speaker Mahinda Yapa Abeywardena said in a televised announcement late Saturday. He’s stepping down as a concession to various party leaders, who had requested he quit to put an end to soaring public anger.