The International Monetary Fund head of delegation for Egypt, Chris Jarvis (L), Egypts Minister of Finance Amr al-Garhy (C) and Central Bank of Egypt chief Tarek AmeR (R) attend a joint press conference in Cairo on August 11, 2016. IMF has reached an initial agreement with Egypt for $12 billion in funding over three years, the fund said. The Egyptian government hopes the deal will provide a lifeline amid a dollar shortage, dwindling foreign reserves and an economy battered by years of unrest. / AFP / STR

Egypt selling off state-owned companies for first time in 12 years

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The International Monetary Fund head of delegation for Egypt, Chris Jarvis (L), Egypts Minister of Finance Amr al-Garhy (C) and Central Bank of Egypt chief Tarek AmeR (R) attend a joint press conference in Cairo on August 11, 2016. IMF has reached an initial agreement with Egypt for $12 billion in funding over three years, the fund said. The Egyptian government hopes the deal will provide a lifeline amid a dollar shortage, dwindling foreign reserves and an economy battered by years of unrest. / AFP / STR

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