An International Monetary Fund (IMF) delegation arrived in Egypt on Wednesday to resume negotiations over a $4.8 billion loan sought by the government to settle its financial crisis.

Egypt had intially agreed with the IMF on the loan in November to contain a budget deficit. The agreement was frozen at Cairo's request in the wake of an unrest triggered by a decree issued by President Mohamed Mursi that gave him sweeping powers and shielding his decisions from the judiciary.

Egypt’s budget had been affected by two years of political unrest and economic turmoil since the ouster of former president Hosni Mubarak. 

The country’s foreign currency reserves fell to critically low levels, threatening its ability to import essential supplies such as fuel and wheat.

Finance minister said on Monday that his government hoped to conclude the deal during the meetings with the IMF delegation, the IMF did not specify a timetable.

The IMF is expected to impose austerity measures on Egypt in order to conclude the agreement.