Anti-government protesters set Sri Lankan Prime Minister Ranil Wickremesinghe's residence on fire in Colombo on Saturday as unrest grew in the country.
A group of protesters broke into his private residence after a standoff between the protesters and security forces, local media reported.
Colombo witnessed massive public fury on Saturday as crowds earlier stormed President Gotabaya Rajapaksa's official residence.
Videos posted online showed some protesters swimming in the presidential house's pool while others taking selfies on Gotabaya's bed.
The president had moved to a safe location, according to reports.
Parliamentary speaker Mahinda Yapa Abeywardena said Gotabaya told him he would resign on Wednesday, Sri Lankan media reported.
Leaders of political parties in parliament in a meeting decided to request Gotabaya and Wickremesinghe to resign.
Wickremesinghe, who became prime minister after Gotabaya's elder brother Mahinda Rajapaksa resigned in May, said he was ready to quit.
"To ensure the continuation of the government including the safety of all citizens I accept the best recommendation of the party leaders today, to make way for an all-party government. To facilitate this I will resign as prime minister," Wickremesinghe said.
Sri Lanka's economy has crumbled and the nation of 22 million is facing an acute shortage of fuel, medicines and food items.
Many blame the Rajapaksa family for the country's unprecedented economic crisis.