“Diesel supplies are drying up as a cash-strapped government struggles to cap a mounting bill for subsidies it has promised the IMF it will reform to secure an elusive $4.8 billion loan desperately needed to keep a sagging economy formerly http://www.reuters.com/finance/economy?lc=int_mb_1001 afloat. The situation appears near breakdown with growing shortages, unsustainable subsidies and foreign exchange reserves running out, raising the risk that fuel bottlenecks lead to food shortages and pose a risk to political stability. Foreign reserves are down below $15 billion, less than three months’ imports, despite deposits from Qatar and Turkey. The Egyptian pound has lost 8 percent of its value this year and a black market has emerged.”
http://www.reuters.com/article/2013/02/13/us-egypt-diesel-idUSBRE91C0RO20130213
