27 July 2012 17:58 [Source: ICIS news]
WASHINGTON (ICIS)--The outlook for ?xml:namespace>
In its latest periodic review of
The “costly market access” refers to
That high cost for
The Washington, DC-based IMF said further that Spain’s “economy is in the midst of an unprecedented double-dip recession with unemployment already unacceptably high, public debt increasing rapidly, and segments of the financial sector lacking capital and market access”.
“Headwinds from household and corporate deleveraging, combined with unavoidable fiscal consolidation and persistent capital outflows, will likely translate into output contractions this year and next,” the report said.
There appears to be little prospect of improvement for
In its outlook analysis for
“While the recently announced Euro area financial assistance for banks and the Euro area summit statement help to mitigate short-term risks,” said the IMF, “market tensions could intensify further, threatening market access, particularly if policies fail to stem capital outflows or due to further stress elsewhere in the Euro area.”
Amid ongoing and vehement demonstrations in
There are strong doubts among economists that the EU nations, including notably reluctant
The still doubtful EU rescue of
Under its multinational mandate, the IMF periodically reviews the economic conditions and stability of its 188 member countries.
($1 = €0.81)
Paul Hodges studies key influences shaping the chemical industry in Chemicals and the Economy
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