Sri Lanka has been denied quick access to a Rapid Finance Instrument (RFI) by the International Monetary Fund (IMF). Speaking in Parliament on Friday (22), former Prime Minister Ranil Wickramasinghe revealed that Sri Lanka has not been qualified for an RFI. “If we cannot access an RFI, then what should we do next?” he questioned the government.
Read: Ali Sabry requests for a ‘Rapid Financing Instrument with the IMF’

Furthermore, he said that Sri Lanka has to devise a debt sustainability plan. According to the former PM Sri Lanka has only one option, and that is to go for an Extended Fund Facility (EFF). “It took almost a year to get an EFF last time, we cannot wait that long. We are running out of fuel, food and medicine” he added.
Read: IMF says assurance of debt sustainability is required.