Egyptians Suffer Yet Another IMF-Instigated Price Hike

The fuel price hike is the fifth since the IMF increased its loan amount last year, conditional on the elimination of fuel subsidies and the sale of the public sector.

Amid a deepening cost-of-living crisis forcing people to cut food intake, Egyptians were slapped with another IMF-instigated fuel price hike on Friday, October 17. On the heels of an almost 15% hike this April, the price of diesel, the most widely used fuel in the country, increased by almost 13%. The petrol price is up by 10.5% to…