Kathmandu,

July 10,

Sri Lanka’s president and prime minister agreed to resign Saturday after the country’s most chaotic day in months of political turmoil, with protesters storming both officials’ homes and setting fire to one of the buildings in a rage over the nation's severe economic crisis.

Prime Minister Ranil Wickremesinghe said he will leave office once a new government is in place, hours before the speaker of the Sri Lankan parliament said President Gotabaya Rajapaksa would step down on Wednesday.

Pressure on both men had grown as the economic meltdown set off severe shortages of essential items, leaving people struggling to buy food, fuel and other necessities.