IMF says Spain faces "severe" challenges in meeting EU target

The IMF said Spain’s new budget proposal will need to be assessed as the country struggles to meet European Union targets and demand for the nation’s debt slumps.

5th April, 2012
IMF says Spain faces "severe" challenges in meeting EU target
“The challenges that Spain is facing are severe,” an IMF spokesman said.

The International Monetary Fund said Spain’s new budget proposal will need to be assessed as the country struggles to meet European Union targets and demand for the nation’s debt slumps.

“The challenges that Spain is facing are severe,” IMF spokesman Gerry Rice told reporters in Washington today. “Market sentiment remains volatile. This calls for sustaining the reform.”

Prime Minister Mariano Rajoy said Spain’s situation is one of...

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