Sri Lanka's parliament will reconvene on July 15 and elect a new president on July 20. It comes after protesters stormed the presidential palace and prime minister's residence. President Gotabaya Rajapaksa, as well as Prime Minister Ranil Wickremesinghe, confirmed they will be stepping down. Sri Lanka faces a political vacuum while experiencing its worst economic crisis in 70 years. Inflation stands above 50 percent and is expected to rise further in the next few months.