Sri Lankan President Gotabaya Rajapaksa has fired his brother, Finance Minister Basil Rajapaksa, amidst the ongoing economic crisis, according to Deccan Herald.

Ali Sabry, who replaced Basil Rajapaksa, was sworn in as the new Finance Minister, it said.

Meanwhile, GL Peiris, Dinesh Gunawardena and Johnston Fernando were sworn in as Foreign Minister, Education Minister and the Minister of Highways respectively, Deccan Herald quoted the Daily Mirror.

Earlier, 26 ministers in the Sri Lankan cabinet -- all members except President Gotabaya Rajapaksa and his elder brother Prime Minister Mahinda Rajapaksa -- submitted letters of resignation at a late-night meeting yesterday.