Sri Lanka's six-time prime minister, Ranil Wickremesinghe, was sworn in as president on Thursday, with plans to create a unity government to resolve the problem.

The 73-year-old veteran politician, who was decisively chosen as the country's head of state in a parliamentary vote on Wednesday, took his oath of office in the presence of the country's police chief and top military personnel.

According to official sources, the new leader is expected to establish a cabinet soon to shepherd the country out of its greatest economic crisis since independence from Britain.

Leader of the opposition Sajith Premadasa, who backed a different candidate for president on Wednesday's ballot, said he met with Wickremesinghe to discuss ways to keep the country safe from more "misery and calamity."

"We shall provide constructive assistance for attempts to alleviate human misery," Premadasa tweeted on Thursday.

Several opposition members are anticipated to serve in Wickremesinghe's government.

A foreign exchange crisis sparked by the coronavirus outbreak and worsened by mismanagement had resulted in lengthy power outages and record-high prices in Sri Lanka.

The country's 22 million citizens have also suffered food, gasoline, and pharmaceutical shortages for months.

Tens of thousands of protestors invaded the home of then-President Gotabaya Rajapaksa, compelling him to resign and paving the path for Wickremesinghe's election.

Wickremesinghe is widely likely to appoint his schoolmate and former public administration minister Dinesh Gunawardena as the unity government's prime minister.