CAIRO (Sputnik) – On Wednesday, it was reported that the Egyptian government was in the final stages of three-month negotiations on the agreement with the IMF on a three-year aid program worth $7 billion annually.
El-Garhy told CBC TV that Egypt wants to get a total of $12 billion from the IMF, as well as funds from other sources in 2016-2017.
According to IMF Middle East and Central Asia director Masood Ahmed, talks on the aid program will start on July 30.
Egypt is suffering a severe shortage of foreign currency caused mainly by the blow to its tourist sector following the crash of the Russian Airbus A321 plane over the Sinai Peninsula in October 2015.
