"This is a home brewed macro economic crisis," Razeen Sally from the London School of Economics, said in Colombo.
"It is not a result of global forces for the most part..."
Sri Lanka has gone to the IMF several times either for bailouts or for comprehensive reforms to put the island on a higher growth path, some of which were abandoned in mid-program.
"There is always a ritual dance at work with these aid conditionality packages. The lending organizations are in the business of shoving money out of the door," observes Sally.