Egypt has finalised a staff-level agreement with the international monetary fund (IMF) on the components of its programme, and will issue an announcement "very soon," the country's finance minister said on Sunday, Trend reports citing Reuters.
"Very productive bilateral discussions were held with IMF staff on the sidelines of the IMF and World Bank's annual meetings in Washington, and significant progress was made across all policies," Mohamed Maait said in a statement.
Egypt began talks with the IMF for a financial support package in March, soon after the Ukrainian crisis threw its already unsettled finances into further disarray and led foreign investors to pull nearly $20 billion out of Egyptian treasury markets in a matter of weeks.
It is hoping to stem a currency crisis that has restricted imports and sparked market unease over foreign debt repayments.