PAKISTAN ECONOMY

Shoppers visit Karachi market day after parliament approves revised budget to clinch IMF deal

epa10712499 A vendor arranges a price sign at a market in Karachi, Pakistan, 26 June 2023. Pakistan's parliament gave the nod to changes to the budget for the next fiscal year on 25 June, imposing new taxes and making further cuts in government spending in a last-ditch effort to secure critical funding from the International Monetary Fund (IMF) to avoid a possible default. According to the State Bank of Pakistan, due to external debt repayments, the country's foreign exchange reserves have decreased by an additional 170 million US dollars to 2.92 billion USD. EPA/SHAHZAIB AKBER

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