The government is apparently planning to raise the price of fuel to industry in the coming few days as part of its ongoing talks with the IMF sources tell Al Shorouk. Energy-intensive industries will take it on the chin, it seems, while diesel will be spared to minimize inflationary impact on low-income consumers. The timeline for the removal of fuel subsidies is a point of contention between the government and the IMF, as the government wants to phase the cuts in over time, while the IMF is insisting that the sooner the better.

Okay, when exactly will these IMF talks end? Talks with the IMF may continue to the end of August, as discussions have still not moved to the size of the facility, a source with knowledge of the matter told AMAY: Negotiations have not progressed beyond the reform agenda. Elsewhere, through, the same paper cites other sources as saying 90% of the reform agenda has been agreed and that the size of the first tranche is expected to be USD 2.5 bn.