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The president of Sri Lanka fled the country early Wednesday, days after protesters stormed his home and office and the official residence of his prime minister amid a devastating economic crisisthat has triggered severe shortages of food and fuel, Associated Press reported.

President Gotabaya Rajapaksa, his wife and two bodyguards left aboard a Sri Lankan Air Force plane bound for the city of Male, the capital of the Maldives, according to an immigration official who spoke on the condition of anonymity because of the sensitivity of the situation.

Rajapaksa had agreed to step down under pressure. Prime Minister Ranil Wickremesinghe said he would leave once a new government was in place.

The president’s departure followed months of demonstrations that have all but dismantled the political dynasty that ruled Sri Lanka for most of the past two decades.

But there was no end to the crisis in sight, and protesters vowed to occupy the official buildings until the top leaders are gone. For days, people have flocked to the presidential palace almost as if it were a tourist attraction— swimming in the pool, marveling at the paintings and lounging on the beds piled high with pillows. At one point, they also burned the prime minister’s private home.

At dawn, protesters began chanting against the president and prime minister, taking a break at one point as the Sri Lankan national anthem blared from speakers. Demonstrators stood still, with their backs straight, and in silence. A few waved the flag.

“I am not happy he has fled. He should be in jail,” said Malik D’ Silva, a 25-year-old protester occupying the president’s office who has taken part in protests for the past 97 days.

Rajapaksa “ruined this country and stole our money. We will not stop until we have a new president and prime minister,” D’ Silva said. He said he voted for Rajapaksa in 2019 believing his military background would keep the country safe after Islamic State-inspired bomb attacks earlier that year killed more than 260 people, according to Associated Press.

Nearby, 28-year-old Sithara Sedaraliyanage and her 49-year-old mother wore black banners around their foreheads that read “Gota Go Home,” the rallying cry of the demonstrations.

The two said they hardly slept overnight, chanting alongside hundreds of protesters for hours, until the sun came up.

“We expected him to be behind bars — not escape to a tropical island! What kind of justice is that?” Sithara exclaimed. “This is the first time people in Sri Lanka have risen like this against a president. We want some accountability.”

The air force said in a statement that it provided an aircraft for the president and his wife to travel to the Maldives with the defense ministry’s approval. It said all immigration and customs laws were followed.

A spokesman for the main opposition party in the Maldives’ Parliament said it was regrettable that the archipelago’s government allowed Rajapaksa to land.

“Why should we be a safe haven for anyone is beyond me,” said Mohamed Shareef, a spokesman for the Progressive Congress Coalition. He said the decision was against the sentiments of both Sri Lankans and Maldivians.

Sri Lankan lawmakers agreed to elect a new president next week but struggled Tuesday to decide on the makeup of a new government to lift the bankrupt country out of economic and political collapse. And they have not yet decided who will take over as prime minister and fill the Cabinet, Associated Press reported.

The new president will serve the remainder of Rajapaksa’s term, which ends in 2024 — and could potentially appoint a new prime minister, who would then have to be approved by Parliament.

The prime minister is to serve as president until a replacement is chosen — an arrangement that is sure to further anger protesters who want Wickremesinghe out immediately.

Sri Lankan presidents are protected from arrest while in power, and it is likely Rajapaksa planned his escape while he still had constitutional immunity. A corruption lawsuit against him in his former role as a defense official was withdrawn when he was elected president in 2019.

Corruption and mismanagement have left the island nation laden with debt and unable to pay for imports of basic necessities. The shortages have sown despair among the country’s 22 million people. Sri Lankans are skipping meals and lining up for hours to try to buy scarce fuel. 

Until the latest crisis deepened, the Sri Lankan economy had been expanding and growing a comfortable middle class.

Sithara said the people want new leaders who are young, educated and capable of running the economy.

“We don’t know who will come next, but we have hope they will do a better job of fixing the problems,” she said. “Sri Lanka used to be a prosperous country.”

As a restaurant manager in a hotel in Colombo, she used to have a steady income. But with no tourists coming in, the hotel closed, she said. Her mother, Manjula Sedaraliyanage, used to work in Kuwait but came back to Sri Lanka a few years ago after she suffered a stroke. Now the daily medication she needs has become harder to find and more expensive, Sithara said.

The political impasse added fuel to the economic crisis since the absence of an alternative unity government threatened to delay a hoped-for bailout from the International Monetary Fund. The government must submit a plan on debt sustainability to the IMF in August before reaching an agreement.

In the meantime, the country is relying on aid from neighboring India and from China.

Asked whether China was in talks with Sri Lanka about possible loans, a Chinese Foreign Ministry official gave no indication whether such discussions were happening.

“China will continue to offer assistance as our capability allows for Sri Lanka’s social development and economic recovery,” said the spokesman, Wang Wenbin, according to Associated Press.

After the storming of the government buildings, “it was clear there is a consensus in the country that the government leadership should change,” said Jehan Perera, executive director of the National Peace Council of Sri Lanka, a think tank.

The protesters accuse the president and his relatives of siphoning money from government coffers for years and Rajapaksa’s administration of hastening the country’s collapse by mismanaging the economy. The family has denied the corruption allegations, but Rajakpaksa acknowledged some of his policies contributed to the meltdown.

The Reserve Bank of India (RBI) on Monday announced certain measures to settle international trades in rupee, in order to promote global trade with emphasis on exports from India, The Times of India reported.

In an official release, the RBI said: "In order to promote growth of global trade with emphasis on exports from India and to support the increasing interest of global trading community in rupee, it has been decided to put in place an additional arrangement for invoicing, payment, and settlement of exports/imports in rupee."

In other words, all exports and imports under this arrangement may be denominated and invoiced in rupee.

However, for putting this mechanism in place, banks will require prior approval from the foreign exchange department of RBI, the circular said.

The new mechanism will also address issues related to invoicing, exchange rate as well as settlement.

Besides, the exchange rate between 2 currencies may be determined by the market.

For settlement of trade transactions, the concerned banks will require Special Rupee Vostro Accounts of correspondent bank/s of the partner trading country.

The circular further noted that, the rupee surplus balance held can be used for permissible capital and current account transactions in accordance with mutual agreement.

The balance in special vostro accounts can be used for payments for projects and investments; export/import advance flow management; and investment in government bonds, it added, according to The Times of India.

Exporters, undertaking overseas shipments of goods and services through this mechanism, will be paid the export proceeds in Indian rupees from the balances in the designated Special Vostro account.

It may also enable Indian exporters to receive advance payment against exports from overseas importers in rupees.

However, before allowing such receipt of advance payment against exports, banks shall ensure that available funds in these accounts are first used towards payment obligations arising out of already executed export orders/export payments in the pipeline.

"Indian importers undertaking imports through this mechanism shall make payment in INR which shall be credited into the Special Vostro account of the correspondent bank of the partner country, against the invoices for the supply of goods or services from the overseas seller /supplier," it said.

CPN (Unified Socialist) Chairman Madhav Nepal said that they are clear on Tibetan and Taiwan issues.

During a meeting with Chief of the International Liaison Department of the Communist Party of China Liu Jianchao at the Baneshwor-based Hotel Everest on Tuesday, Nepal said that they are clear on One-China policy.

“We have clearly stated our policy towards China. Nepal is committed to One-China policy. Nepal is not in favor of interfering in the internal affairs of China,” he said, adding, “We have said that the issues of Tibet and Taiwan are the internal matters of China.”

He said that the meeting dwelt on strengthening ties between the two countries and further expanding the relations between the two parties.

Saying that Nepal and China have good relations, he said that China wanted to make relations stronger with various political parties.

He said that China has kept Nepal in the top priority.

The Chinese leader said that all the Nepalis should work together for the development of the country.

The Ministry of Home Affairs reshuffled Chief District Officers (CDOs) of three districts.

Hari Prasad Ghimire has been transferred to Bhojpur, Surya Sedhai to Khotang and Gopal Aryal Kanchanpur.

According to the Home Ministry, the CDO of Bhojpur Basu Koirala has been transferred to the Tribhuvan International Airport-based Immigration Office and CDO of Khotang Phanindra to the Home Ministry.

Ram Prasad Pandey of Kanchanpur has been removed from the Home Ministry. He was transferred to the Ministry of General Administration.

The Home Ministry has decided to transfer the CDOs on Friday. The Ministry implemented the decision on Sunday.

The CPN (Unified Socialist) leaders have reached Baneshwor-based Hotel Everest to meet head of the International Liaison Department of the Communist Party of China Liu Jianchao on Tuesday.

Party Chairman Madhav Nepal, senior leader Jhalanath Khanal and Deputy General Secretary Ganga Tuladhar among others leaders reached Hotel Everest this afternoon. 

The Chinese leader, who arrived in Kathmandu on a three-day visit to Nepal on Sunday, held separate meetings with Prime Minister Sher Bahadur Deuba and Foreign Minister Narayan Khadka the same day.

Earlier on Monday, he called on CPN (Maoist Centre) Chairman Pushpa Kamal Dahal.

During the meeting, leader Liu expressed his concern over the growing anti-China activities in Nepal and communist unity.

In response, Dahal said that the Nepali political parties and the Nepalis are committed to One-China policy.

Earlier this morning, he reached Balkot to meet CPN-UML Chairman KP Sharma Oli.

During the meeting that lasted for four hours, the Chinese leader expressed his concern over the growing anti-China activities in Nepal.

Oli, in response, said that he had not allowed such activities during his tenure.

The Nepal Stock Exchange (NEPSE) gained 11. 68 points to close at 1,927.28 points on Tuesday.

Similarly, the sensitive index plunged by 2. 09 points to close at 368.95 points.

Meanwhile, a total of 4,967,561 unit shares of 226 companies were traded for Rs 1. 70 billion.

In today’s market, all sub-indices saw green. Non Life Insurance topped the chart with 74. 47 points.

Meanwhile, Saptakoshi Development Bank Limited was the top gainer today, with its price surging by 9. 35 percent. Naya Sarathi Laghubitta Bittiya Sanstha Limited was the top loser as its price fell by 4. 65 percent.

At the end of the day, total market capitalisation stood at Rs 2. 74 trillion.

Former Prime Minister and CPN (Maoist Centre) Chairman Pushpa Kamal has expressed his commitment to take initiatives to resolve the citizenship-related problem of Non-Resident Nepalis.

He said so during a meeting with the representatives of the Non-Resident Nepali Association.

"We have been raising our voices about the problems of Non-Resident Nepalis," he said, adding, "We are committed to resolve the problem by endorsing the Citizenship-related Bill which was tabled in the Parliament on our initiative."

Thanking Dahal for taking initiatives on behalf of the CPN (Maoist Centre) to bring Citizenship Bill by incorporating various issues, the representatives urged Dahal to take initiatives to ensure the rights of Non-Resident Nepalis.

Party senior leader Narayan Kaji Shrestha, founder President of NRNA Upendra Mahato, President duo Kul Acharya and Badri KC, Vice-President Mahesh Shrestha, Regional Coordinator of Europe Chintamani Sapkota and Ramesh Kafle among others were present in the meeting.

Nepal reported 177 new Covid-19 cases on Tuesday.

According to the Ministry of Health and Population, 1, 805 swab samples were tested in the RT-PCR method, of which 144 returned positive. Likewise, 1, 321 people underwent antigen tests, of which 33 were tested positive.

The Ministry said that no one died of virus in the last 24 hours. The Ministry said that 41 infected people recovered from the disease.

As of today, there are 873 active cases in the country.