Egypt Secures Preliminary Agreement with IMF, According to Government Sources – Reuters

CAIRO (Reuters) – Egypt has reached a preliminary agreement with the International Monetary Fund following nearly two weeks of discussions aimed at securing a $12 billion lending program. An official announcement is expected on Thursday, according to two government sources.

While the sources noted that an official deal has yet to be signed, they indicated that intensive negotiations with an IMF delegation, which arrived in Cairo on July 30, have led to this preliminary understanding. Further details were not disclosed.