Spain: 2010 Article IV Consultation: Staff Statement; Staff Supplement; Staff Report; Statement by the Executive Director for Spain; and Public Information Notice on the Executive Board Discussion

July 30, 2010

Preview Citation

Format: Chicago

Spain: 2010 Article IV Consultation: Staff Statement; Staff Supplement; Staff Report; Statement by the Executive Director for Spain; and Public Information Notice on the Executive Board Discussion, (USA: International Monetary Fund, 2010) accessed September 19, 2024

Summary

Spain’s economy is facing severe challenges. Financial market tensions increased sharply in the wake of the Greek crisis. Policy should focus on rebalancing of the economy and securing market confidence. Ambitious fiscal consolidation is under way, but achievement of the targets needs to be made more credible and complemented by bold pension reform. A radical overhaul of the labor market is urgent. Progress in recent years on product and service market reform should continue. The banking sector remains sound but is under pressure.

Subject: Banking, Commercial banks, Employment, Financial institutions, Labor, Labor market reforms, Labor markets, Public debt, Wages

Keywords: Capital participation, Commercial banks, CR, Decree, Employment, Global, ISCR, Labor markets, Policy development, Reform, Saving bank, Savings bank, Severance payment, Staff statement, Staff supplement, Wages

Publication Details

Pages:

100
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2010/254
Stock No:

1ESPEA2010001
ISBN:

9781455202836
ISSN:

1934-7685

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