Egypt's President Mohamed Mursi speaks on Egyptian television before an emergency meeting at the presidential palace in Cairo August 5, 2012. REUTERS/Egyptian Presidency/Handout
LONDON/CAIRO (Reuters) - Egypt is finding it increasingly difficult to import fuel as foreign banks and traders pull the plug on credit and charge high premiums due to concerns over its financial and political stability, trading and banking sources said.
Sporadic international loans have so far helped, and the country requested up to $4.8 billion (3.0 billion pounds) from the International Monetary Fund (IMF) on Wednesday, but without such ad-hoc interventions, Egypt could quickly end up like debt-stricken Greece, dependent on a narrow pool of traders charging richly for supplies.
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