Egypt reaches preliminary deal with IMF: government sources

August 11, 2016 5:40 AM EDT

Egyptian President Abdel Fattah al-Sisi (C) attends a meeting with Egypt's Prime Minister Sherif Ismail and members of the government's Economic Ministerial Committee to discuss future economic indicators and figures of the general budget and the results

News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.

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.

(Reporting by Lin Noueihed, Editing by Lila Hassan)

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories


Add Your Comment