IMF on Spain

Spanish Ministry of Economy Nadia Calviño and Ministry of Finance María Jesús Montero

The IMF Predicts A Lasting Impact Linked With The Coronavirus; Spain, Most Affected In Developed World

The International Monetary Fund revised upwards estimates of global growth in 2020 but warned of a long and asymmetric recovery with uncertainties in which Spain will be the developed economy that falls most in the year. Thus, the agency now expects world GDP to fall by 4.4% in 2020 ( against -4.9% in June), thanks to China’s performance. The IMF forecasts for Spain a fall of 12.8% in 2020 to recover 7.2% in 2021. This drop is more than double that expected for the advanced countries as a whole (-5.8%).





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IMF on Spain: Reforms On Track, But Banks Shouldn’t Cut Lending

NEW YORK | By The Corner Team | Spain is leaving the worst of the crisis behind, as economic output and unemployment are stabilising, the IMF said on Monday. However, the adjustment from a profound recession still poses risks for banks. The Washington based institution, which is monitoring Spain’s financial assistance programme, welcomed the implemented measures but urged banks to boost capital without cutting lending.