Watched by IMF, Pakistan to present budget amid economic, political crises

A vendor speaks with a customer while selling fruits at a market in Karachi, Pakistan June 8, 2023. REUTERS/Akhtar Soomro

ISLAMABAD (Reuters) - Pakistan's government will present its annual budget to parliament on Friday needing to satisfy the IMF to have any chance of securing the release of more bailout money, with the crisis-riven country due to hold elections by November.

The risk of default on sovereign debt is rising, with the economy creaking under twin deficits and record high inflation, which has further dented the popularity of Prime Minister Shehbaz Sharif's coalition ahead of the vote.