As Prime Minister Imran Khan tries to set a new direction for Pakistani politics , his administration is urgently seeking to resolve the country's most serious macroeconomic challenge: boosting its dwindling foreign exchange reserves. As of Sept. 7, the State Bank of Pakistan's net reserves remained beneath $10 billion. That's less than the three-month import cover recommended by the International Monetary Fund (IMF), fueling speculation that Khan will turn to the U.S.-based organization for a bailout. Indeed, Finance Minister Asad Umar has unveiled a series of measures targeting the widening budget deficit ahead of an IMF delegation visit to Islamabad on Sept. 27. These measures include cutting more than $2 billion in planned development spending, doubling the tax rate on the highest income earners to 30 percent and hiking tariffs on 5,000 nonessential imports.