Egypt raises fuel prices as part of IMF-backed reforms

Egypt has announced a 15-percent increase in petrol prices, which will come into effect on Friday, as part of a reform package requested by the International
Monetary Fund to proceed with a $5 billion loan to the cash-strapped
government.
Reporting by AFP said the announcement comes ahead of an IMF meeting on Monday to review the April payout package, unlocking $820 million in funds after Cairo received another such tranche of the loan in late June.