REGIONAL

The IMF says energy subsidy reform in the MENA region “has gained new momentum” as deficits widen amid “recent commodity price increases and greater social demands.” But the region has much further to go in cutting energy subsidies. The Fund, in a report issued last week, studies past examples of successful, and not so successful, subsidy reform to offer a ‘how to’ guide for implementing reform. Worryingly for Egypt, it cautions against...