Egypt talking to EBRD, FAO on reducing wheat import costs: minister

CAIRO (Reuters) - Egypt is in talks with the European Bank for Reconstruction and Development (EBRD) and the U.N.'s Food and Agriculture Organization (FAO) on reducing its wheat import costs by up to $10 per tonne, the country's supplies minister said on Thursday. The world's biggest wheat importer is in discussions in a bid to preserve hard currency reserves, Khaled Hanafi said in a statement. Egypt's economy has been battered by political turmoil since the 2011 revolt that ousted autocrat Hosni Mubarak. Currency reserves plummeted after the uprising from $36 billion to critically low levels below the $15 billion needed to cover three months of imports for the most populous Arab country. Reserves have stabilised above $15 billion for the past 18 months. But a boost in tourism and foreign investment is needed to return to earlier levels.