Leaders of Sri Lanka's protest movement said on Sunday they would occupy the President and Prime Minister's residences until they resign, a day after the two men agreed to resign, leaving the country in political limbo.

On Saturday, thousands of protesters stormed President Gotabaya Rajapaksa's home and office, as well as the Prime Minister's official residence, as protests over their inability to overcome a devastating economic crisis erupted into violence.

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According to the speaker of parliament, Rajapaksa will resign on July 13, and Prime Minister Ranil Wickremesinghe has also stated that he will step down to allow an all-party interim government to take over.

"The president has to resign, the prime minister has to resign and the government has to go," playwright Ruwanthie de Chickera told a news conference at the main protest site in Colombo.

She said, flanked by other leaders assisting in the coordination of the anti-government movement, the crowds would not leave the President and PM's official residences until then.

Though calm had returned to the streets of Colombo on Sunday, curious Sri Lankans wandered through the ransacked presidential palace throughout the day. Security personnel, some armed with assault rifles, stood outside the compound but did not prevent people from entering.

"I've never seen a place like this in my life," 61-year-old handkerchief seller B.M. Chandrawathi, accompanied by her daughter and grandchildren, told Reuters as she tried out a plush sofa in a first-floor bedroom.

"They enjoyed super luxury while we suffered. We were hoodwinked. I wanted my kids and grandkids to see the luxurious lifestyles they were enjoying."

A group of young men lounged on a four-poster bed nearby, while others competed for turns on a treadmill set up in front of large windows overlooking manicured lawns.

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Economic crisis

The political turmoil in Sri Lanka, coupled with the worst economic crisis in seven decades, has been exacerbated by a severe shortage of foreign currency, which has slowed imports of essentials such as fuel, food, and medicines.

The financial crisis arose as a result of the COVID-19 pandemic, which devastated the tourism-dependent economy and reduced remittances from overseas workers.

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It has been exacerbated by the government's massive and growing debt, rising oil prices, and a seven-month ban on importing chemical fertilizers last year, which devastated agriculture.

Petrol has been severely rationed, and long lines have formed in front of cooking gas stores. In order to save fuel, the government has asked people to work from home and has closed schools. Headline inflation in the 22-million-person country reached 54.6% last month, and the central bank has warned that it could reach 70% in the coming months.

US Secretary of State Antony Blinken said any government in power would have to "work quickly to try to identify and implement solutions that will bring back the prospect of long-term economic stability, address the Sri Lankan people's discontent, which is so powerful and palpable."

"We would urge the Sri Lankan parliament to approach this with a commitment to the betterment of the country, not any one political party," he said at a news conference in Bangkok.

India, Sri Lanka's massive neighbor, said it was closely monitoring events and had provided $3.8 billion in aid during the crisis.

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The International Monetary Fund (IMF), which has been in talks with the government about a possible $3 billion bailout, said it was also keeping a close eye on events.

"We hope for a resolution of the current situation that will allow for the resumption of our dialogue on an IMF-supported programme," the global lender said in a statement.