Sri Lanka President Gotabaya Rajapaksa has confirmed he will be resigning, the prime minister’s office has said.

It comes two days after crowds stormed the official residence of both leaders. Demonstrators are still occupying the buildings and are refusing to leave until both leaders are gone.

The parliament Speaker had earlier said the president would resign on 13 July.

Mr Rajapaksa’s current whereabouts are unknown. The BBC has been told that he is on a navy vessel at sea.

His resignation was first announced by the Parliament Speaker on Saturday, but many Sri Lankans responded with scepticism to the idea that he would relinquish power.

On Monday, Prime Minister Ranil Wickremesinghe’s office said in a statement it had been informed by Mr Rajapaksa that he would step down on Wednesday.

However, there has still been no direct word from Mr Rajapaksa.

Under Sri Lanka’s constitution, his resignation can only formally be accepted when he resigns by letter to the parliament Speaker – which has yet to happen.

Mr Wickremesinghe had earlier also said he would step down from his position.

Mr Rajapaksa had departed the presidential palace before protesters entered on Saturday, calling for his resignation.

His brother, former Prime Minister Mahinda Rajapaksa, is at a naval base in the country, the sources say.

For months, Sri Lankans have been calling for the resignation of the Rajapaksa brothers.

The president has been blamed for the country’s economic mismanagement, which has caused shortages of food, fuel and medicine for months.

Inside the occupied palace on Sunday, protesters were refusing to budge.

“Our struggle is not over,” student protest leader Lahiru Weerasekara said, quoted by AFP. “We won’t give up this struggle until [President Rajapaksa] actually leaves,” he said.

“The next couple of days are going to be extremely uncertain times as to see what transpires politically,” political analyst and human rights lawyer Bhavani Fonseka told Reuters, adding that it would be interesting to see if the two leaders “actually resign”.

Other politicians in Sri Lanka met on Sunday to discuss how to handle a smooth transition of power.

The speaker of Sri Lanka’s parliament told the BBC World Service Newshour programme a new cross-party coalition government would need to be formed within a week of the president officially stepping down.

BBC/Simeon Ugbodovon

Thousands of protesters have stormed President Gotabaya Rajapaksa’s residence in the capital of Sri Lanka.

Demonstrators from all over the country marched to Colombo demanding his resignation after months of protests over the mismanagement of the country’s economic crisis.

Reports say he has already been moved to a safer location.

The country is suffering rampant inflation and is struggling to import food, fuel and medicine.

Thousands of anti-government protesters travelled in cars, vans and buses to the capital, with officials telling AFP news agency that some had even “commandeered” trains to get there.

They swarmed into Colombo’s government district, shouting slogans against the president and breaking through several police barricades to reach President Rajapaska’s house, a witness told Reuters.

Police fired shots in the air to try and prevent angry crowds from overrunning the residence, but were unable to stop some of the crowd from entering.

Authorities had attempted to stop the demonstration from taking place by imposing a curfew on Friday night. But protesters were undeterred, and the curfew was lifted after civil society groups and opposition parties strongly objected to it.

Sri Lanka has run out of foreign currency reserves and is struggling to import essential goods. Many blame the country’s dire economic situation on President Rajapaksa, and demonstrations have been taking place since March demanding he quit.

BBC/Simeon Ugbodovon