Pakistan's Budget Raises Concerns Amid IMF Pressure.

Pakistan's government has announced a budget deficit target of 6.54% of economic output for the fiscal year starting on July 1, which is slightly below the current year's revised estimate of 7%. However, the budget is unlikely to satisfy the IMF, which could lead to the South Asian nation defaulting on debt. The government is hoping to persuade the IMF to unlock at least some of the $2.5bn left in a $6.5bn programme that Pakistan entered in 2019 and which expires at the end of this month.