Sri Lanka's entire cabinet will resign once an agreement is reached to form an all-party government, the prime minister's office said on Monday, as authorities try to overcome a political crisis triggered by a deep economic one.

"All the ministers who participated in the discussion were of the opinion that as soon as there is an agreement to form an all-party government, they are ready to hand over their responsibilities to that government," said the office of Prime Minister Ranil Wickremesinghe, who has already offered to quit. (Reporting by Uditha Jayasinghe Writing by Krishna N. Das; editing by John Stonestreet)