On July 20, Sri Lanka‘s Parliament will elect a new president; a spokesman said on Monday after protesters stormed the residences of the current President and Prime Minister, who offered to resign amid the economy’s collapse.

As defence minister, President Gotabaya Rajapaksa, who oversaw the ruthless crackdown on the Tamil Tigers, will resign on Wednesday. His brother and nephew had earlier resigned as ministers as Sri Lanka’s worst crisis since independence from Britain in 1948 began to run out of fuel, food and other necessities.

Parliament will reconvene on Friday and vote for a new president five days later, Speaker Mahinda Yapa Abeywardena said in a statement.

“At today’s meeting of party leaders, it was unanimously agreed that this is essential to ensure that the constitution establishes a new all-party government,” the statement added.

“The ruling party says PM and cabinet ready to resign and appoint an all-party government”.

Protesters set fire to the private home of Prime Minister Ranil Wickremesinghe, who they say will step down. Rajapaksa has confirmed his plans to resign as President, his office said, adding that the cabinet will resign once an agreement is reached to form an all-party government.

Political instability could derail talks with the International Monetary Fund (IMF) on a bailout package; the central bank governor told Reuters.

Governor P. Nandalal Weerasinghe has said he will stay on the job, though he said in May he could resign if the island nation of 22 million becomes politically unstable.

Leaders of the protest movement said crowds would occupy the official residences of Colombo’s President and Prime Minister until they eventually resigned. At the presidential palace over the weekend, protesters jumped into the swimming pool, lay on a four-poster bed, took turns juggling on treadmills and tried sofas.

On Monday, it was calm in Colombo, with hundreds of people walking into the President’s secretariat and official residence to see colonial-era buildings. The police did not attempt to intervene.

UN Secretary-General António Guterres has called on the government to make a smooth transition and provide “sustainable solutions” to the economic crisis.