IMF downplays Spain’s economic woes

June 18, 2010 07:38 pm | Updated December 04, 2021 10:52 pm IST - Madrid

International Monetary Fund Managing Director Dominique Strauss-Kahn pauses during a news conference with Spain's Prime Minister Jose Luis Rodriguez Zapatero, unseen, at the Moncloa Palace in Madrid, on Friday. The meeting took place to discuss the Spanish economic situation. Photo: AP.

International Monetary Fund Managing Director Dominique Strauss-Kahn pauses during a news conference with Spain's Prime Minister Jose Luis Rodriguez Zapatero, unseen, at the Moncloa Palace in Madrid, on Friday. The meeting took place to discuss the Spanish economic situation. Photo: AP.

International Monetary Fund Managing Director Dominique Strauss—Kahn on Friday said he had a strong trust in the recovery of the Spanish economy.

The anti—crisis measures adopted by Prime Minister Jose Luis Rodriguez Zapatero’s government were “very efficient,” Mr. Strauss—Kahn said after holding talks with the premier during a working visit to Madrid.

Mr. Zapatero said he had informed Mr. Strauss—Kahn about new policies such as labour market and pension reforms which would allow “Spain to overcome the crisis with strength.” The reforms could let Spain to lay the foundations for growth in the next two decades, Mr. Strauss—Kahn said.

The European Union and the IMF have dismissed reports that Spain was about to be engulfed by a debt crisis similar to that of Greece.

0 / 0
Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.