In a dramatic escalation of the ongoing economic crisis in Sri Lanka, a top defence source who spoke on condition of anonymity to AFP has confirmed that Gotabaya Rajapaksa, the embattled president of the country, has fled his official residence in the capital on Saturday before protestors calling for his resignation stormed the compound.&nbsp;The insider claimed that the president was "escorted to safety," and that troops had fired shots into the air to keep mobs of enraged people from storming the President's Palace. In one&nbsp;of the largest anti-government demonstrations in the troubled country this year, tens of thousands of protesters broke through police barricades to attack the president's official residence.

Watch |&nbsp;Sri Lanka Economic Crisis worsens | Many Sri Lankans switch to firewood

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The protesters poured into Colombo's government district, yelling anti-presidential chants and tearing down multiple police barricades to get to Rajapaksa's home, reports Reuters citing a witness present at the scene.&nbsp;The witness claimed that despite police shooting rounds in the air, the enraged mob continued to surround the presidential palace.

According to a video from the local TV news NewsFirst channel, several demonstrators burst into the president's mansion while brandishing helmets and Sri Lankan flags.

Also read |&nbsp;<a href="https://www.wionews.com/south-asia/crisis-hit-nearly-6-million-sri-lankans-experience-food-insecurity-as-inflation-rises-495155">Sri Lanka in crisis: Nearly 6 million experience food insecurity as inflation rises</a>

The 22 million-population&nbsp;island is experiencing the biggest financial instability in seven decades as a result of a severe foreign exchange shortage that has restricted imports of fuel, food, and medicine.

President Gotabaya and the Rajapaksa clan is has been blamed for the nation's collapse.&nbsp;Since March, mostly peaceful demonstrations have called for his resignation.

However, since the cash-strapped nation ceased receiving fuel shipments, forcing school closures and rationing of gasoline and diesel for basic services, discontent has gotten worse.

(With inputs from agencies)

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In a dramatic escalation of the ongoing economic crisis in Sri Lanka, a top defence source who spoke on condition of anonymity to AFP has confirmed that Gotabaya Rajapaksa, the embattled president of the country, has fled his official residence in the capital on Saturday before protestors calling for his resignation stormed the compound.

In a dramatic escalation of the ongoing economic crisis in Sri Lanka, a top defence source who spoke on condition of anonymity to AFP has confirmed that Gotabaya Rajapaksa, the embattled president of the country, has fled his official residence in the capital on Saturday before protestors calling for his resignation stormed the compound. The insider claimed that the president was "escorted to safety," and that troops had fired shots into the air to keep mobs of enraged people from storming the President's Palace. In one of the largest anti-government demonstrations in the troubled country this year, tens of thousands of protesters broke through police barricades to attack the president's official residence. Watch | Sri Lanka Economic Crisis worsens | Many Sri Lankans switch to firewood The protesters poured into Colombo's government district, yelling anti-presidential chants and tearing down multiple police barricades to get to Rajapaksa's home, reports Reuters citing a witness present at the scene. The witness claimed that despite police shooting rounds in the air, the enraged mob continued to surround the presidential palace. According to a video from the local TV news NewsFirst channel, several demonstrators burst into the president's mansion while brandishing helmets and Sri Lankan flags. Also read | Sri Lanka in crisis: Nearly 6 million experience food insecurity as inflation rises The 22 million-population island is experiencing the biggest financial instability in seven decades as a result of a severe foreign exchange shortage that has restricted imports of fuel, food, and medicine. President Gotabaya and the Rajapaksa clan is has been blamed for the nation's collapse. Since March, mostly peaceful demonstrations have called for his resignation. However, since the cash-strapped nation ceased receiving fuel shipments, forcing school closures and rationing of gasoline and diesel for basic services, discontent has gotten worse. (With inputs from agencies) Watch WION LIVE HERE: You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Sri Lankan President Gotabaya Rajapaksa flees as angry mob storms presidential palace

After protesters surrounded Rajapaksa's official residence and demanded his resignation, the Speaker of the House, Mahinda Yapa Abeywardena, announced that Rajapaksa would step down on Wednesday, July 13. In a statement sent to the media on Saturday, July 9, Abeywardena asked the public to be calm in a statement and gave state officials advice on how to ensure that daily life runs smoothly.

The Speaker said that he had notified Rajapaksa of the party leaders' earlier-in-the-evening resolve to remove the president and prime minister, Ranil Wickremesinghe, from office. In order to facilitate a smooth transition, the president indicated his agreement with the choice and announced he would step down on Wednesday.

Speaker Abeywardena urged restraint while pointing out that Prime Minister Wickremesinghe's private mansion in Colombo had been set on fire by a group of people.

Abeywardena pleaded with everyone to stop engaging in these behaviours and go back to their homes.

Watch | Public anger over economic crisis: Sri Lankan PM's private house set on fire

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<a href="https://www.wionews.com/south-asia/video-protesters-attack-sri-lanka-prime-ministers-house-set-it-on-fire-police-495947">Video: Protesters attack Sri Lanka prime minister's house, set it on fire — Police</a>

Earlier today, Sri Lanka’s prime minister agreed to resign after party leaders in Parliament demanded both he and the embattled president step down on the day protesters stormed the president’s residence and office in a fury over a worsening economic crisis. 
 
<a href="https://www.wionews.com/south-asia/sri-lanka-economic-crisis-pm-ranil-wickremesinghe-says-he-is-willing-to-resign-495892">Also read | Sri Lanka economic crisis: PM Ranil Wickremesinghe says he is willing to resign</a>

When all parties have reached an agreement on a new government, the prime minister, Ranil Wickremesinghe, said in a voice statement that he will step down.

<a href="https://www.wionews.com/south-asia/sri-lanka-president-gotabaya-rajapaksa-to-resign-on-july-13-speaker-495972">Also read | Sri Lankan President Gotabaya Rajapaksa flees as angry mob storms presidential palace</a>

“Today in this country we have a fuel crisis, a food shortage, we have the head of the World Food Program coming here and we have several matters to discuss with the IMF. Therefore, if this government leaves there should be another government,” he said.

His decision followed the largest rally to ever sweep Sri Lanka, in which tens of thousands of protesters burst through barriers and stormed into President Gotabaya Rajapaksa's home and neighbouring office to express their rage against a figure they consider accountable for the country's darkest crisis.

(With inputs from agencies)

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After protesters surrounded Rajapaksa's official residence and demanded his resignation, the Speaker of the House, Mahinda Yapa Abeywardena, announced that Rajapaksa would step down on Wednesday, July 13.

After protesters surrounded Rajapaksa's official residence and demanded his resignation, the Speaker of the House, Mahinda Yapa Abeywardena, announced that Rajapaksa would step down on Wednesday, July 13. In a statement sent to the media on Saturday, July 9, Abeywardena asked the public to be calm in a statement and gave state officials advice on how to ensure that daily life runs smoothly. The Speaker said that he had notified Rajapaksa of the party leaders' earlier-in-the-evening resolve to remove the president and prime minister, Ranil Wickremesinghe, from office. In order to facilitate a smooth transition, the president indicated his agreement with the choice and announced he would step down on Wednesday. Speaker Abeywardena urged restraint while pointing out that Prime Minister Wickremesinghe's private mansion in Colombo had been set on fire by a group of people. Abeywardena pleaded with everyone to stop engaging in these behaviours and go back to their homes. Watch | Public anger over economic crisis: Sri Lankan PM's private house set on fire Video: Protesters attack Sri Lanka prime minister's house, set it on fire — Police Earlier today, Sri Lanka’s prime minister agreed to resign after party leaders in Parliament demanded both he and the embattled president step down on the day protesters stormed the president’s residence and office in a fury over a worsening economic crisis. Also read | Sri Lanka economic crisis: PM Ranil Wickremesinghe says he is willing to resign When all parties have reached an agreement on a new government, the prime minister, Ranil Wickremesinghe, said in a voice statement that he will step down. Also read | Sri Lankan President Gotabaya Rajapaksa flees as angry mob storms presidential palace “Today in this country we have a fuel crisis, a food shortage, we have the head of the World Food Program coming here and we have several matters to discuss with the IMF. Therefore, if this government leaves there should be another government,” he said. His decision followed the largest rally to ever sweep Sri Lanka, in which tens of thousands of protesters burst through barriers and stormed into President Gotabaya Rajapaksa's home and neighbouring office to express their rage against a figure they consider accountable for the country's darkest crisis. (With inputs from agencies) Watch WION LIVE HERE: You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Sri Lanka economic crisis: President Gotabaya Rajapaksa to resign on July 13 — Speaker

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Sri Lankan President Gotabaya Rajapaksa flees as angry mob storms presidential palace

Sri Lanka economic crisis: President Gotabaya Rajapaksa to resign on July 13 — Speaker