Italy: 2010 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; Staff Statement; Statement by the Executive Director for Italy

International Monetary Fund

No 2010/157, IMF Staff Country Reports from International Monetary Fund

Abstract: The global crisis had a severe impact on the Italian economy despite elements of strength such as high private savings, low private indebtedness, and a resilient financial system. Executive Directors decided that the public sector wage bill should remain a key element of the consolidation strategy, and close monitoring of subnational public finances should be continued. They commended the authorities for the progress made in structural reforms but stressed that a more ambitious program of reforms needed to be pursued to address Italy’s growth potential.

Keywords: ISCR; CR; Italy; crisis; staff projection; bank; staff appraisal; market turbulance; labor market; emergency government intervention; year government bond; Pension spending; Credit; Fiscal consolidation; Pensions; Global; Europe (search for similar items in EconPapers)
Pages: 133
Date: 2010-06-01
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