IMF expert team visits Italy on economic discussions

WASHINGTON, Dec. 21 (Xinhua) -- The International Monetary Fund (IMF) said Wednesday that its expert team had visited Italy to discuss economic and budgetary developments with the Italian authorities.

"The IMF today concluded a short visit to Rome, where a two- person team met with the new authorities and received updates on budgetary developments," an IMF spokesperson said in a short statement.

"The team had also productive discussions on the modalities of the monitoring missions, requested by the Italian authorities, and which are now expected to take place early in 2012," noted the statement.

Dagong Global, a leading Chinese rating agency, earlier this month downgraded the local and foreign currency long-term sovereign credit rating of Italy by one level to BBB from the previous A- with "negative" outlook, due to the country's sluggish economic growth and difficulties of narrowing fiscal deficit in the medium term.