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Spain economy gets vote of confidence from IMF chief

Spain has no need of an international financial rescue, according to Dominique Strauss-Kahn, head of the International Monetary Fund (IMF).

“I don’t believe that the Spanish government needs any type of financial aid,” he said in an interview with the Spanish newspaper El Pais.

The comments will be seen as a vote of confidence that austerity measures imposed by Madrid could be working.

The IMF is a key body monitoring Europe’s debt-laden economies.

“We have not received any request for help from the Spanish government,” Mr Strauss-Kahn said.

“I believe that the policies that the Spanish government has implemented, as much on the fiscal side as in the reform of pensions, the labour market or in banking, are the right policies,” he continued.

“And what I see is that over the last few months, Spain has been place in the same bag as other countries, such as Greece, when they are clearly not in the same situation,” he said.

BBC.

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