The International Monetary Fund said it is in ongoing discussions with Egypt's government on additional financing as part of a current program, the Fund´s spokesperson Julie Kozack said in a press conference on Thursday.
"The exact size of financing is part of the ongoing discussions that IMF staff is having with the Egyptian authorities," Kozack added.
The IMF considers an augmentation is key as the country has been hit by economic difficulties posed by the Israel-Hamas conflict, "including the potential impact on tourism revenues."
Egypt has an ongoing program with the IMF for $3 billion that was agreed in Dec. 2022.
Kozack said that talks will continue in incoming weeks, with the aim to complete the first and second reviews of the extended fund facility program (EFF).
Egypt's presidential election will be held on Dec. 10-12.
(Reporting by Jorgelina do Rosario and Rodrigo Campos, Editing by Franklin Paul)