Implementing the IMF’s recommendations will be a daunting task for the Rajapaksa government as it will be resisted by the masses, opposition parties, and trade unions.
Sri Lanka's central bank governor said the suspension of payment would be until the country came to an agreement with creditors and with the support of a loan programme with the International Monetary Fund.
The government had resisted dealing with the IMF, claiming that this would undermine the country’s interests. Its latest decision marks a policy shift.