(Reuters) – Egypt is expected to sign a new program with the International Monetary Fund within months, Prime Minister Mostafa madbouly stated on Sunday at a televised news conference.

Egypt indicated that in March it had been in negotiations with IMF to discuss potential funding and technical assistance to mitigate against the negative economic impacts of Russia-Ukraine crises.

Madbouly stated that there have been talks between the finance ministry, the central bank and the IMF. “We are making great progress,” he said. I don’t wish to rush events but the program will be operational in a few months.

He said, “We work according to protocols and official visits will be expected to confirm the program in detail.”

Although the Ukraine crisis had a negative impact on tourism revenue and increased commodity import costs, it prompted investors from abroad to flee. However, Cairo has received billions in financial assistance since then, including support from many Gulf Arab states.