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Egypt reaches preliminary deal with IMF: government sources

Published 08/11/2016, 05:41 AM
Updated 08/11/2016, 05:50 AM
© Reuters. Egyptian President Abdel Fattah al-Sisi attends a meeting with Egypt's Prime Minister Sherif Ismail and members of the Economic Ministerial Committee at the Ittihadiya presidential palace in Cairo

CAIRO (Reuters) - Egypt has reached a preliminary agreement with the International Monetary Fund after nearly two weeks of talks to secure a $12 billion lending program and will make an announcement on Thursday, two government sources said.

The sources said no deal had been signed yet but that intensive talks with an IMF delegation that arrived in Cairo on July 30 had resulted in a preliminary understanding. They gave no more details.

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