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

International Monetary Fund

No 2010/254, IMF Staff Country Reports from International Monetary Fund

Abstract: Spain’s economy is facing severe challenges. Financial market tensions increased sharply in the wake of the Greek crisis. Policy should focus on rebalancing of the economy and securing market confidence. Ambitious fiscal consolidation is under way, but achievement of the targets needs to be made more credible and complemented by bold pension reform. A radical overhaul of the labor market is urgent. Progress in recent years on product and service market reform should continue. The banking sector remains sound but is under pressure.

Keywords: ISCR; CR; decree; reform; savings bank; severance payment; saving bank; policy development; staff supplement; staff statement; capital participation; Labor markets; Employment; Commercial banks; Wages; Global (search for similar items in EconPapers)
Pages: 100
Date: 2010-07-30
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