IMF discusses Sri Lanka’s intention to replace EFF with rapid financing instrument

May 08, 2020 (LBO) – The International Monetary Fund (IMF) says that they are currently discussing Sri Lanka’s intention to replace the Extended Fund Facility (EFF) arrangement that the country had with the rapid financing instrument as the current IMF program is about to be completed.

During a press briefing held at the IMF yesterday, Gerry Rice of the Communications Department confirmed that they have received a request from the Sri Lankan government for emergency financial support, under the rapid financing instrument.

“We will be working in close coordination with the government to assess all relevant factors related to that request, and I can also say that the Sri Lankan authorities also expressed interest in a range of options for future engagement with the Fund,” Gerry Rice said.

“In this context, again, we’re discussing the authority’s intention to replace the extended fund facility arrangement that they had with the rapid financing instrument.”