Business Maverick: Sri Lanka president plans to resign after presidential palace stormed

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Economic activity has ground to a halt as citizens endure hours-long daily power outages. Anger against the president had been brewing for months as the country is in the worst tailspin of its independent history, with inflation seen hitting 70%.

Sri Lankan President Gotabaya Rajapaksa will step down this week, after angry protesters swarmed his official residence and offices.

The resignation marks a possible turning point for the bankrupt country, which is struggling to pay for food and fuel imports. International Monetary Fund representatives said they plan to continue technical discussions with the finance ministry and the central bank. Civil-rights activists, religious leaders and artists were among thousands from across the South Asian island who gathered on Saturday at an oceanfront protest site near the presidential residence in the capital, Colombo.

Wickremesinghe also announced his resignation on Saturday. Within hours of the decision, protesters set fire to his private residence. Wickremesinghe is safe, his office said in a text message, without elaborating.

 

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Sounds familiar just put another face to the picture

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Just reading the tweet and not the article ... This could be SA nevermind Sri Lanka...

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