Sri Lanka's parliament has accepted the ousted president's resignation, ending rule by a family that wielded power for nearly 20 years.

Iran PressAfrica: Gotabaya Rajapaksa quit after fleeing to Singapore amid mass protests over his mismanagement of the economy.

Sri Lanka is in the grip of economic chaos as it faces an acute shortage of food, fuel and other basic supplies, BBC reported.

Rajapaksa's resignation paves the way for the country to begin the process of electing a new president.

Sri Lanka's speaker of parliament, Mahinda Yapa Abeywardena, said on Friday that he accepted Rajapaksa's resignation, which he received late on Thursday.

He has called for parliament to convene on Saturday to start the process of electing a new leader. PM Ranil Wickremesinghe has been sworn in as acting president.

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