Sri Lanka Economic Crisis News LIVE Updates: New PM and government within this week, assures President Gotabaya

"I will appoint a young cabinet without any of the Rajapaksas," Gotabaya said

He added that he will make way for the executive presidency to be abolished with the new government in place: Local media reports

President Gotabaya Rajapaksa says he will strengthen the parliament through constitutional amendments.

President Gotabaya says he is working to establish a new govt. Says within the week will appoint a new PM and Cabinet who have confidence of the majority

President Gotabaya Rajapaksa addresses the nation amid crisis

During Rajapaksa's tenures, China has made deep inroads into Sri Lanka securing the Hambantota port, built in the hometown of Rajapaksa on a 99-year lease for a debt swap after it incurred heavy losses. It was seen as Beijing's attempt to secure a foothold in the Indian Ocean where it already has a military base at Djibouti in the Horn of Africa.

China on Wednesday declined to comment on the resignation of Prime Minister Mahinda Rajapaksa, who paved the way for Beijing's substantial strategic investments in the island nation, but called on the government and Opposition parties to close ranks to deal with the crisis.

Sri Lankan PM's bias towards China & prejudice towards India'

Special statement by President Gotabaya Rajapaksa will be telecast at 9.00 pm

Destruction of a political dynasty in Sri Lanka

After Army, Sri Lanka police given orders to shoot to maintain order

Weerasinghe said it was critical that a new administration take charge by Friday or the country would suffer a catastrophe.

Central Bank of Sri Lanka Governor Nandalal Weerasinghe said the country's economy will "collapse beyond redemption" unless a new government is appointed within two days to restore political stability.

"The Secretary-General is deeply concerned about the escalation of violence in Sri Lanka. He condemns all violence and calls on all parties to exercise restraint. He continues to encourage all Sri Lankan stakeholders to find a solution to the current challenges through dialogue," said Farhan Haq, Deputy Spokesman for the Secretary-General. (PTI)

UN Secretary-General Antonio Guterres is "deeply concerned" about the escalation of violence in Sri Lanka and calls on all parties to exercise restraint and find a solution to the ongoing crisis through dialogue, his spokesperson has said.

Sri Lanka central bank governor says he will quit if no political stability in two weeks: Local media reports

Can't even afford a headache in Lanka. There's no medicine'

How Lanka's economy united those deeply divided for decades

The Defense Ministry's top official, Kamal Gunaratne, denied allegations of a military takeover, at a news conference jointly held with the country's army and navy chiefs.

How China and self-harm destroyed Sri Lanka's economy