Latest News:  
Beijing   Thundershower/Overcast    28 / 22 ℃  City Forecast

Home>>World

IMF warns Italy of downside risks, pushes more reform actions

(Xinhua)

15:31, July 11, 2012

WASHINGTON, July 10 (Xinhua) -- The International Monetary Fund (IMF) said Tuesday that Italy's economy would remain vulnerable to downside risks, urging the country to keep reform momentum.

"The economy is expected to continue contracting through the year owing to tight financial conditions, the global slowdown, and the needed fiscal consolidation," the IMF said in its annual Article IV economic consultation report.

It expected the recovery would take hold in early 2013, led by a modest pickup in exports, but would lag behind the rest of the region.

The IMF warned the downside risks to the outlook which would stem mainly from an intensification of the euro area crisis, predicting that Italy's economy would decline by 1.9 percent in 2012 and 0.3 percent in 2013.

The report noted the pressure on Italian banks, saying despite progress made in strengthening their capital positions and raising private capital, the banks still relied heavily on support from European central bank and faced increasing sovereign risk and rising funding costs.

【1】 【2】

Email|Print|Comments(Editor:朱蕤、姚春)

Leave your comment0 comments

  1. Name

  

Selections for you


  1. Aizhai Bridge: World's highest suspension bridge

  2. APF special operation members in anti-terrorism training

  3. Five sins of Apple (Ⅰ): Disregard supplier's pollution

  4. Serene scenery in Tianshan Mountain,Xinjiang

Most Popular

Opinions

  1. Sea spat can draw mainland and Taiwan closer
  2. New regulations a chance to build clean govt
  3. Negotiations on COC in S. China Sea favor peace
  4. Hanoi will feel pain for helping US return
  5. Telecoms industry stifled by capital prohibition
  6. Socialist market economy turning point for China
  7. No large stimulus needed
  8. ASEAN should stick to mediating role
  9. Diaoyu issue needs more than diplomacy
  10. China can help keep peace in growing Africa

What's happening in China

Ancient footprints found in Anhui province

  1. IPR violation cases drop
  2. China announces 3rd fuel price cut in months
  3. Chinese tourists flock to London for Olympics
  4. China wins first ever Stankovic Cup
  5. Lesbian blood ban removed

China Features

  1. Why is TCM worth of commendation?
  2. Arabians pay heavy price for Arab Spring
  3. Master of pasted-paper sculpture
  4. China, US hold mixed attitudes toward each other
  5. China does not lack capital: CSRC Chair

PD Online Data

  1. Spring Festival
  2. Chinese ethnic odyssey
  3. Yangge in Shaanxi
  4. Gaoqiao in Northern China
  5. The drum dance in Ansai