ISLAMABAD -- Staring at the rising risk of a sovereign default, Pakistan unveiled a 14.5 trillion rupee ($50 billion) budget late last week, much of it to be funded by borrowing. While Finance Minister Ishaq Dar insisted the government had prepared a "responsible budget," experts and even officials are skeptical, warning that it may not help the country secure crucial support from the International Monetary Fund.
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A TV salesman watches Pakistani Finance Minister Ishaq Dar present the budget for the next fiscal year on June 9. © Reuters
