The government’s decision to temporarily default on sovereign debt repayments, akin to a declaration of bankruptcy, will deal another major blow to the country’s economy and credibility. It comes at a time when mass protests are spontaneously taking place in all parts of the country on account of the economic hardships that the people are being put through. The resignation of the cabinet nearly two weeks ago and the failure to appoint a new one is indicative of government paralysis which is injurious to the country.