Spain: Staff Report for the 2011 Article IV Consultation; Public Information Notice; Statement by the Staff Representative; and Statement by the Executive Director for Spain

International Monetary Fund

No 2011/215, IMF Staff Country Reports from International Monetary Fund

Abstract: A decade of strong expansion in the Spanish economy led by a credit-fueled housing boom was hit by three major shocks. The policy response to Spain’s economic challenges has been strong and wide-ranging, helping to strengthen market confidence. A decisive implementation of the envisaged financial sector reform strategy would help allay lingering market concerns. A bold strengthening of labor market reforms is needed to substantially reduce unacceptably high unemployment. Further progress needs to be made on enhancing competition in nontradable sectors.

Keywords: ISCR; CR; FROB capital backstop; capital; private sector savings-investment balance; Spain; vis nonresident; financial market spillover; market discipline; Labor markets; Employment; Unemployment; Global; Europe (search for similar items in EconPapers)
Pages: 69
Date: 2011-07-29
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