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PC party leader attends the protest in support of fishermen | SaltWire #newsupdate #newfoundlandCAIRO - Egypt raised prices on a wide range of fuel products on Friday, the official gazette said, pressing ahead with a promise it made to the International Monetary Fund more than a year ago as part of a $3 billion financial support agreement.
The IMF agreement fell into abeyance last year after Egypt did not follow through on price rises and other commitments, including allowing its currency to move according to market forces, quickly selling state assets and reducing the government's role in the economy. The IMF has argued that subsidised petrol prices mainly help the rich at the expense of the poor, most of whom do not own vehicles.
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