Sri Lanka submitted its request to the IMF for emergency financial support under the RFI in April last year. In mid-April, then-IMF Acting Mission Chief for Sri Lanka Mashiro Nozaki confirmed that this request was being reviewed. Nozaki added that the RFI, if approved, could potentially replace the existing $ 1.5 billion Extended Fund Facility (EFF) arrangement of Sri Lanka with the IMF, of which Sri Lanka has so far received $ 1.3 billion. In April this year, the IMF responded with the following, which has remained its response for the past few months: “In April 2020, we received a request from the Sri Lankan authorities for emergency financial support under the Rapid Financing Instrument. Assessing relevant conditions for the RFI has taken longer than for other countries, due to Sri Lanka’s daunting economic challenges and high public debt. Staff have sought but not reached an understanding on how to fulfil key requirements for the RFI, which include policies to continue ensuring debt sustainability.”