The Washington-based IMF has not yet been in contact with Egypt’s interim government, but continues to monitor developments in the country carefully, according to a spokesperson.

“We are in regular contact with our counterparts at a technical level,” said Gerry Rice, a director at the IMF at press briefing held in Washington DC. However, Rice refused to divulge exactly who they were speaking to and whether official talks surrounding a possible $4.8bn loan from the IMF would be resumed.

His comments come as Saudi Arabia, Kuwait and the UAE pledged financing packages worth $12bn to help support Egypt’s ailing economy as country rebuilds after the ousting of former president Mohamed Mursi.

Talks between Egypt and the IMF continue to stall as the North African country fails to hit certain economic requirements needed to be granted funding.